Data room software provides a secure virtual space to transfer documents and collaborate on urgent tasks. Businesses can use it to share confidential client data as well as to prepare for mergers or acquisitions, help with legal cases, and engage prospects during the selling process. The best data room software comes with advanced file management features and is simple to use. It also provides a variety of security features to guard sensitive files and track the user’s interactions. For example, some of them come with redaction functionality that blacks out areas of documents to make sure personally-identifiable data remains private. Other features include a fence view that prevents screenshotting and a robust document search engine that is able to handle the most basic and complicated queries.

Some of the leading providers of this software include Egnyte, Netfiles, and Brainloop. These programs offer security that is enterprise-grade when sharing sensitive files, and can be accessed via any device that has an internet browser or app. They offer a variety of kinds of files and support various integrations with third party. They also offer a wide range of collaboration and sharing capabilities, including comments and approvals, as well as coediting and legally binding electronic signatures.

Firmex is a popular VDR vendor. Its features are tailored for certain industries like biotech, investment banking and healthcare. The platform is extremely safe, with a authorization matrix that assigns specific access rights based on the user’s roles. It also offers dynamic watermarking and document expiry that can protect sensitive files from unauthorised access.