No one in business would take a big decision without all the facts. However, obtaining all that information can mean combing through tens of thousands of highly private documents. What can you do to ensure that the right people are examining the information and that it doesn’t fall into the wrong hands?

Online data room services provide a secure, encrypted environment for businesses to store and exchange private documentation during a transaction. They are often used in M&A transactions, tenders and capital raising events. They allow companies to collaborate and communicate in a safe and secure environment whether in the same room with each one or across the globe.

Virtual data rooms come in a variety of sizes and shapes and the features vary dramatically between providers. Therefore, it’s essential to select a provider that has a good reputation for reliability and user-friendliness. Software review platforms, such as Capterra is an excellent place to begin your search. You can read reviews from real customers and compare companies’ features and pricing.

Once you’ve found several providers, you can compare their features to determine the one that best suits your requirements. Choose a platform that is user-friendly and allows users with authorization to access anytime. The best providers will offer basic features such as multi-factor authentication and user permissions that are granular While others may offer advanced features, such as ad blocking and IP address restriction. iDeals is an example of a highly-rated vendor that offers both of these features and more.