Online data rooms are virtual repositories of information and documents accessible via the internet, usually through the use of passwords. They are typically used in M&A transactions, offering an secure method for both parties to look over and share information with each other in accordance with due diligence. In comparison to physical data rooms they can offer savings on hardware, a search function, and the security of sensitive data.

When selecting an online data space be sure to consider the storage capacity and how easily it can be accessed to upload and download data. Text documents require less storage space than technical drawings and high-resolution images. Some data rooms online allow you to compress files in order to save space.

The top virtual data rooms offer tools for collaboration as well as an easy-to-use interface. Additionally, they have an expert support team who are available to assist when needed. They can help set up access permissions, enabling document watermarking, and providing guidelines on how to use the online data room.

Additionally, look for data rooms on the internet that enable you to export data in a secure format. This makes it easier to transfer data to a new provider in the event of a merger or project termination.

It’s also worth assessing whether an online data space offers a flexible subscription plan to suit changing business needs. The ability to modify the number of users, folder structure or security settings without having to sign an extended contract will give you confidence that your data room will be able to meet future requirements.