Many investment bankers and advisers believe that all data rooms are alike. However they differ in terms of features and prices. Some companies offer a flat-rate fee, while others charge an additional fee based on the quantity and type of features the client requires.

Some vendors, such as iDeals and Intralinks focus on security at the highest level that is ideal for clients in M&A deals. Both have granular access privileges and multi-factor authentication. They also allow for printing, document viewing and downloading restrictions according to time and IP address. Other important features include optical character recognition, drag-and-drop uploading automated index numbering and advanced search.

Some companies specialize in certain areas, such as life sciences. They provide security features that are tailored to specific industries like dynamic watermarking and customizing permissions. These features ensure that only the right people can access certain documents. Additionally, they can track who has downloaded and read documents to provide valuable information.

Many of the top data rooms online have intuitive interfaces with easy-to-use features. They make the buying process easier for clients and help them save hours of work. They are equipped with a range of features that allow clients to work efficiently. They have an area for Q&A that allows users to ask questions in real time and receive instant answers. Users can also view the entire document's activity in a consolidated report. Some vendors have multi-language customer support teams, which could be useful for non English speakers.