Online data rooms are software platforms that assist companies store and share confidential documentation during a transaction. They offer multiple layers of protection including secure storage and strict permissions. They also prevent leaks of information as a result. The best virtual data room providers also facilitate collaboration with ease and allow users to access information from any device. They provide user-friendly interfaces and mobile apps.

Most online data rooms use cloud hosting. They provide a range of features to protect document sharing. They include granular permissions and visual analytics. They also offer a variety formats for files, Microsoft Office integration and unlimited storage. Some of them are even protected by top security standards such as 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 and supports up to 25 different file types. It has the ability to view documents that do not require any plugins, and allows you to scroll through documents by using a mouse or keyboard. The platform has no limitations on the number or users of projects. Additionally, it has a free trial, no installation fees, and is compatible with several languages.

iDeals is a fantastic tool for companies in the life sciences industry, especially those involved in M&A or fundraising. It has features that aid in due diligence and contract negotiations. Its advanced branding feature lets you design a custom About like it page and alter the color of the data room as well as its logo. Its informative insight dashboards allow for efficient Q&A sessions. Its powerful search feature lets you locate any document in minutes, and it comes with the ability to upload files using drag-and-drop.