Many people immediately think of data rooms when they think of due diligence which is the process which enables the financial and legal negotiation of a deal between two or more parties. However, the technical development of these platforms has meant that they are frequently being used to facilitate an array of business transactions including the sale of assets, fundraising and even restructuring.

The best virtual datarooms offer a variety of security and document management features that make transactions of all kinds. Auto indexing and bulk uploads are standard features that allow you to build an efficient file system in a short time. They also include a search feature that uses multiple criteria to provide quick and precise results. Certain also have a "fence view' feature that blacks out a portion of a file to prevent unauthorised downloads and taking screenshots. The most reliable providers have access security features like multi-factor authentication, granular user permissions and time and IP restrictions.

Certain vendors use machine learning or artificial Intelligence (AI) tools to cut down the amount of documents required to conduct due diligence. This is particularly beneficial when dealing with complicated or long documents.

Other technologies that are essential to the most reliable rooms include a drag-and-drop interface, multilingual support, OCR and file preview and smart AI categorization. These features make it easier to navigate and search huge quantities of data, especially when they're in multiple languages.