What to Look for in a Data Room Solution

The best virtual data rooms should have many features. Find a platform that doesn’t have an extended learning curve, and can be used on any operating system or device. It should also offer 24/7 customer support and be accessible anytime you need it.

Datarooms should be equipped with the ability to drag and drop files that lets them upload large files fast, and create an index in one click. They should also have advanced search capabilities. This includes search tags, filters, labels and optical character recognition tools that permit full-text searching among all documents. They should be able merge multiple PDF files into one file.

The ideal virtual dataroom vendor must offer a variety of security options to secure sensitive data from prying eyes. iDeals, Citrix and Datasite are vendors that excel in this area with multi-factor user authentication, a custom deal workflow, mobile device management and access permissions for granular access.

Administrators can invite users to iDeals datarooms on their own or in large numbers. They can also configure security options for sign-ins and set access permissions, including the capability to print and browse secure PDFs. Administrators can manage the rights of users, and monitor the changes in audit logs that are detailed. They can also create color-coded reports on top activity to have a complete view of group activity. These reports will show the number and types of users, the number and type of documents accessed, as well as the types that are permitted, and the number and types of Q&A queries.

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