Data Room Providers
Data room providers equip companies, interest groups, and corporations with an online platform that is secure to share, upload information, track, and distribute information. This makes it easier for creating and maintaining business relationships, mergers, acquisitions and joint ventures as well as streamlining processes and transactions that depend on efficient document sharing.
The variety of features offered by each vendor varies however, most data rooms provide a few basic features. The ability to immediately access past records comes in handy in referencing deals from the past and analyzing performance, and the ability to modify user permissions is essential for optimizing governance. Many providers also offer reports of activity that reveal who has accessed documents and the length of time they were viewed for, allowing users to keep track of activity and security.
Firmex is among the most popular virtual data room providers. It has been operating for over 12 years and has helped facilitate more than 100,000 projects ranging from M&A to financial transactions. Firmex is known for its security measures which includes detailed permissions for users, groups and documents, as well a dynamic watermarking, to prevent unauthorised distribution, and the capability to restrict access to documents remotely, even if they’ve been saved or printed.
Brainloop is another popular data room provider. It provides an intuitive, flexible interface. Users can work on documents in real-time with other users and collaborate on projects using the tool’s collaborative tools. It provides a variety of options for customization, including the possibility to modify the appearance and feel of the platform with avatars, images, and brand colors. The tool also comes with ISO27001 certification and NDAs that can be clicked to ensure the highest level of security.
