Data handling is a major concern for all businesses, which is the reason that the majority of companies use an online data room. These virtual platforms allow large-scale file sharing and security and provide the full range of features for managing documents to assist users in working with documents. The most reliable online datarooms allow for multi-language support. This makes cross-board communication easier and makes it more accessible to use for people who are not tech-savvy.
Online data rooms provide a variety of features, including drag-and-drop uploading and bulk downloading unlimited storage advanced search tools that include labels and tags, and optical character recognition for PDFs and image files and the capability of creating an index of all uploaded files. They also offer dynamic watermarking that allows users to view who has viewed or downloaded particular documents and, in most cases, they provide detailed activity reports, with visual heat maps for easy collaboration.
When choosing an online data room, it’s crucial to choose one that is designed to handle transactions that are complex. Large corporations typically require a range of capabilities, such as secure file transfer, audit trails, and multiple language support. There are numerous solutions to meet a wide variety of needs.
Citrix ShareFile, for example offers large-scale storage of files and sharing. It is an excellent choice for M&A and due diligence processes. The platform also supports electronic signatures, mobile access, advanced permission controls and a free trial. CapLinked is another option. It offers a secure platform for managing confidential data and contracts, with an emphasis on M&A. The provider is SSAE16 Type II and ISO 27001 certified, and includes features such as private workspaces that have permissions as well as client service teams, engagement letters, and live support for clients.