Data room software provides secure virtual spaces to share documents and collaborate on time-sensitive projects. Businesses use it to share confidential client data as well as prepare for mergers and acquisitions, assist in legal cases and even engage prospects in the sales process. The best data room software comes with advanced features for managing files and is simple to use. It also offers a variety of security features that protect sensitive documents and track user 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 blocks screenshotting, and an efficient search engine that is able to handle simple and more complex queries.

Some of the most popular providers of this software include Egnyte, Netfiles, and Brainloop. These software tools offer enterprise-grade security for sharing sensitive documentation, and they are accessible from any device with an internet browser or application. They support a variety of file types and come with a range of integrations with third parties. They also offer a broad variety of collaboration and sharing capabilities, such as comments and approvals, coediting, and legally binding electronic signatures.

Firmex is a well-known VDR vendor. Its features are designed for specific industries such as biotech, investment banking, and healthcare. The platform is extremely secure and comes with a permissions matrix that assigns the privileges to users based on their roles. It also offers dynamic watermarking and document expiry that can shield sensitive documents from unauthorized access.