Data room technology allows diverse business areas to securely share documents during due diligence, M&A, partnering, fundraising and asset sales. These tools are commonly used by investment bankers, private equity managers, accounting and legal firms.

Modern data rooms rely on cloud and offer enterprise grade security even when accessed via the computer, tablet or smartphone. They also allow users to monitor who is viewing what files and for how long. They may also include customized watermarks that display a company’s brand colors or logo and contain conditions of use that all users must agree to before printing or downloading documents.

The majority of modern data room providers have a range options for customizing the look and feel of virtual data rooms, such as drag-and-drop functionality. They can also incorporate indexing to facilitate document navigation simpler and easier to search using full-text. They can be used to monitor the documents that are most viewed and provide analytics reports to management.

Some of the most well-known vendors for online data rooms include iDeals, Citrix and Datasite. They all have a good reputation for security, and have several layers of security. Citrix provides granular access permissions and multi-factor authentication, while Datasite lets you restrict access according to time and IP address.

Many data room platforms provide a single user interface for desktop and mobile devices, as well as an intuitive search engine, and advanced collaboration tools. These tools help teams collaborate more effectively, regardless of the location or device. Users can also make use of the annotation and tagging functions to quickly locate important documents go to website and share them with others. They can also take advantage of the redaction capabilities that many modern data rooms offer, which black out portions of files so that personally-identifiable information stays private.