Online data rooms are software-based platforms that help businesses store and distribute confidential documents during a business transaction. They provide numerous layers of security that include a secure repository as well as strict permissions and audit logs. They can prevent leaks of data as a result. The most secure virtual data rooms also allow easy collaboration and access to data from any device. They have intuitive user interfaces and mobile apps.

Most data room providers online make use of cloud hosting and provide a variety of features for secure document sharing such as a user-specific login page, various permissions and visual analytics. They also offer a range of formats for files, Microsoft Office integration and unlimited storage. Some of them are even backed by world-class security including ISO 27001, SSAE 16 Type II and HIPAA certifications.

One of the most well-known virtual data room providers is iDeals which comes with an intuitive user interface that supports up to 25 file types. It 2dataroom.com comes with a built-in document viewer that does not require plugins and allows users to scroll through documents with the keyboard or mouse. It also does not have restrictions on the number of projects or users. It also provides a free trial and no setup fees.

iDeals is a fantastic tool for businesses in the life sciences sector particularly those involved in M&A or fundraising. It offers features that facilitate due diligence and contract negotiations. Its advanced branding allows users to design a custom About page, as well as alter the color of your data room as well as its logo, and its nifty insight dashboards allow for efficient Q&A sessions. Its powerful search feature lets users to locate any document within seconds. It also has the option of uploading via drag-and-drop.