The best data room is a collaborative software that offers both security and an scalable sharing of content. Box, iDeals and SecureDocs are among the most popular options. They claim to offer the simplest user interfaces, as well as 24/7 customer service. They do not have features that are essential to share documents in sensitive business environments, such as fine-grained settings and audit trails.

Many M&A transactions require a huge quantity of documents to be reviewed by numerous parties. To prevent security breaches and compliancy violations, companies must offer external parties an appropriate environment in which they can easily examine sensitive information. This is where a virtual information room (VDR) comes in.

A VDR allows you to share your data securely with multiple parties while limiting the access they have to certain files or folders. Permissions can also be set in accordance with roles and phases. In addition, a VDR’s audit trail will show who has interacted with documents and the activities that are taking place within the platform.

iDeals is a renowned VDR provider that offers basic but powerful tools for M&A due-diligence and other document sharing purposes. It’s a simple platform that has a quick adoption curve that lets users quickly get acquainted with its capabilities. It also supports a broad variety of file formats, offers flexible pricing models, and supports drag-and drop uploads. Its security features include a double-step verification process and data encrypting. All plans include a 14-day trial for free.

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