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A secure data room is a solution in the cloud specifically designed for the purpose of storing and sharing confidential business data with access control. Virtual data rooms are the latest equivalent of physical rooms where hard copies of documents were reviewed during negotiations for buying and selling. They also have advanced security features such as encryption technology, encryption and other advanced features.

Secure virtual data rooms are typically designed around the principles of personal file storage and sharing options such as Dropbox or Google Drive, but with far greater security protection. Documents and information are encrypted as they transfer to the cloud, as they are shared in a virtual data room and while stored on the server. They’re therefore safer than other file sharing and storage tools that rely on plugins or passwords to limit access to certain devices and locations.

A data room typically includes collaboration features, in addition to basic access (on any device, wherever you are). chat and team messaging, to enhance the effectiveness of due diligence processes. They also have a complete audit trail that shows the activities of all users, to ensure that any violations can be tracked and traced back to their source.

The majority of data rooms are designed to assist due diligence in an acquisition or merger. Both parties can access the information in order to conduct a thorough analysis. They are also becoming more popular for other M&A tasks like restructuring, fundraising, and divestitures. They can also be used as a way to share and examine documents within teams, with the benefit of having more robust encryption security protection compared to traditional email.