Due diligence in M&A transactions is the most common application of an online data room. The seller requires an secure data room to store all documentation for review and the buyer is looking for a single place to view it easily. A simple and user-friendly VDR is essential for these transactions to be completed.

A VDR can also be used for forming strategic alliances or take private companies public. These types of projects require extensive document sharing and collaboration among partners in different locations and time zones. Virtual datarooms facilitate the transfer of information quickly which aids in speeding up decision-making and allow for seamless communication and collaboration among partners.

There are numerous companies that offer an online data room service. Some of the more well-known ones include Intralinks, Merrill Corp, Ansarada, and Firmex. Many of these vendors have no-cost trials or a low-cost plan. They also typically charge according to the amount of storage utilized or the amount of time the online data room will be in use. Some law firms with sophisticated M&A practices also offer an online data room to their clients.

The top data rooms online offer a simple and easy configuration that is equally easy to comprehend for the CFO and entry-level accountant. They also provide a wide range of options for deployment and a single sign-on to all of the projects of a company. Some of the top-rated providers allow customized branding of virtual data rooms to google hangouts for business reflect an organization’s image and the terms of service. They also have a dedicated support team ready to answer any questions.