The best data room is a collaboration software that offers security and scalable content sharing. Box, iDeals and SecureDocs are some of the most well-known options. They claim to have the most simple user interfaces and 24/7 customer service. They do not have certain features that are crucial for document sharing in highly sensitive workplaces, such as granular settings and audit trail.

Many M&A deals require a huge number of documents and numerous parties to look over the documents. To prevent security breaches or violations of compliance, businesses must provide external parties a safe environment in which they can easily review privileged information. This is where a virtual data room (VDR) is essential.

A VDR allows you to share data in a secure manner with multiple parties, while restricting their access to specific folders or files. The permissions can be set based on the roles, phases of imp source the project and types of documents. The audit log of a VDR shows who has accessed documents and what actions were performed within the platform.

A renowned VDR provider, iDeals, offers simple yet robust tools that can be used for M&A due diligence and other document-sharing purposes. It is easy to use and has a minimal learning curve, so users are able to quickly get acquainted with the capabilities of the platform. It supports various file formats and offers an incredibly flexible pricing model. Uploads via drag-and-drop are also possible. Its security features include a two-step verification process and encryption of data. Additionally, it provides a 14-day free trial of all its plans.