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A virtual dataroom is a safe, online storage platform which lets businesses store documents and share them, as well as arrange them. It is perfect for due diligence, collaboration and secure sharing of sensitive business information. It also aids in increasing productivity and speeds up decision-making. A well-designed data room is essential to ensure a smoother M&A transaction, as well managing complicated processes like legal compliance and litigation.

The best VDR solution providers provide industry-leading security, which is essential for M&A transactions as well as simple to use user interfaces and collaborative features. They also provide unlimited storage of data. Users should also search for the data room that offers the option of a free trial along with support and training.

iDeals is a highly-rated virtual data room provider, because it provides a simple and user-friendly interface, secure file transfer, and detailed report-based insights. It’s also a cheap option, offering a range of plans that can be customized and options for storage.

Its advanced security features include watermarking, role-based access and virus scanning. It also provides protocols reporting tools as well as secure eSignatures for contracts with clients. The platform is also suitable for HIPAA conforming contracts, an important aspect for biotech companies and pharma.

CapLinked is a different virtual data room that offers a wide range of information management and data security features. It is ideal for M&As, asset sales and real estate transactions as well as fundraising. The platform is simple to use and accessible from any device. It also supports a variety of formats for files and offers drag-and-drop bulk uploads as well as granular access control.