It is impossible to make an enterprise decision without knowing all the facts. But gathering that information requires sifting through tens or thousands of confidential documents. How can you ensure that only the right people have access to the information and ensure that it doesn’t get into the wrong hands?

Online data room services offer a secure, encrypted environment for businesses to save and share private documentation during a transaction. They are often used in M&A transactions or tenders, as well as capital raising events. They also let businesses communicate and collaborate with one other in a safe and controlled environment, regardless of whether they’re in the same room or across the world.

Virtual data rooms are available in a variety of sizes and shapes and features can vary widely between different providers. It’s therefore important to select one that has a good reputation for reliability and simplicity. Software review platforms, such as Capterra is a great place to start your search. There are reviews from real users and also compare software’s features and prices.

Once you’ve found some potential providers, take a look at their features to determine which is best for your needs. Find a platform that is user-friendly with 24/7 access for authorized users. The best providers offer basic features like multi-factor authentication, flexible permissions for users and others may include more advanced features like ad blocking or IP address restrictions. iDeals is an example of a top-rated vendor that provides both of these features, and more.