What is an Online Data Room?

A secure online data room is an online platform that allows multiple parties to share sensitive documents. These sites can be utilized for a variety of projects, including business agreements and law cases. These rooms come with a range of security features, such as password protection and granular document permissions that can be configured down to the folder level. These rooms can also be configured to restrict access based on the IP address, date and time.

One of the most common uses of an online data room is in mergers and acquisitions, in which buyers require access to confidential documentation. The process can last for months and businesses must be able safely transfer large amounts of information. Virtual data rooms allow users to review documents and save time and money by not having to travel to the company.

Before entering an online dataroom, users must sign a nondisclosure agreement. Users also need to establish a username and password, and accept the terms of service and privacy policy. Many providers offer training to assist users in learning how to use the system and access the information that they need.

A reliable online data-room service will let you control access to documents as well as track the activities of users. For instance they will track the time that users enter the room, which documents they have viewed and how many times they have viewed them. The software should allow you to backup your files in the event of a disaster and transfer them to remote locations.