How to Select the Best Data Room Software
A data room is a safe environment where confidential business files can be shared with investors, partners and other stakeholders. It offers features such as auditing, watermarking and granular access control settings. When choosing a data space vendor, you should consider the type of security the solution offers and whether it can support the file formats that your team uses.
Some providers also offer extra safety features such as auto-indexing or fence view. Look for a solution which allows you to sync your FTP, desktop or other external storages with the data room. This will allow for simple and quick management. Additionally, you should determine if a data room offers multilingual search engines and OCR for searching text within images and PDF documents.
It is essential to know whether the service you choose can remove certain parts of the document or even the entire document. This feature can protect sensitive information by removing personal data from PDFs or images.
Some of the best VDR providers provide comprehensive analytics and reporting features which allow you to keep track of the activities in your virtual data room. Find a solution that will automatically monitor all file uploads, downloads and views, as well as enable you to create custom reports based upon these activities.
Another thing to look for is a free trial that allows you to test advanced capabilities like data uploading, a variety of security and collaboration features, without the need for an upfront commitment. iDeals offers a free 30-day trial that includes unlimited preparation time, two administrators, 500 MB of storage space, the ability to secure your files, dynamic watermarking and a basic digital rights management system.
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