Online data rooms are utilized by various industries for various reasons. Some of them require more advanced functions than others. Those that are dealing with confidential documents and sensitive information require a special set of tools that facilitate collaboration among their teams. Companies dealing with sensitive information may also benefit from having an interface that is multilingual and the ability to work on the documents even without an application on the desktop.

For example, legal firms, banks and other financial institutions typically have a large number of confidential documents they need to share. These companies can benefit from a virtual data room solution which can safeguard information with various levels of security and allows them to access files round-the-clock. They can accelerate due diligence and M&A deals by using a virtual data room.

Virtual data rooms that are the best are backed by top-notch certifications in security. They also offer advanced features that physical data rooms can’t. For instance, they can redact vital areas of files so that personally-identifiable information stays private or prevent screenshotting with a fence view. They can also offer features that make it easy to organize and transfer documents, like drag-and drop file uploads or high-quality previews of over 30 different file types. Some even have an activity log centrally located which improves transparency and accountability for teams.

Some of the most popular data rooms available include Brainloop Secure Documentroom, which is an ideal VDR for M&A and due diligence and project management. It is a cloud-based, end-to-end-encrypted platform that lets you work on a single folder or a number of them with ease. Its patented blob-storage technology and AI powered indexing makes it among the fastest digital data rooms on the market. Moreover, its customizable watermarks and audit logs guarantee 100% compliance with regulatory requirements.