Data room technology is a reliable method to manage the process of sharing sensitive documents and data with a variety of stakeholders in the course of due diligence for a deal. The right choice for a particular company will require some time spent considering how the platform will be used and which features are most useful. Then there is the matter of securing the platform by using the best possible security settings.

A key feature many data rooms offer is redaction, which blacks out sections of files to ensure personally-identifiable information stays private. It’s also worth checking the security certifications of a company to ensure it meets ISO 27001, SOC 1/2/3 and GDPR compliance. iDeals has been tested by FCA and comes with built-in translations, reducing the risk of leakage of documents.

A VDR can also be used to host virtual roadshows for potential investors. It allows the attendees to receive detailed information long before the presentation, making it far more easy to communicate in a conversation and speed the decision-making process.

It’s also essential to make sure that a data room can be easily exported once the project or deal is concluded. This is important since a company may require access to the data for future transactions. Data clean room platforms are an excellent illustration of this. These platforms allow marketers to import first-party data and merge it with common identifiers, such as hashed email addresses and device IDs using privacy-protection methods such as the use of pseudonymization or differential privacy. These cohorts can be used in a variety of marketing methods, including audience generation and engagement.