The majority of people think of data rooms as due diligence processes during the process of a merger or acquisition but they’re also used for other business transactions such as fundraising, initial public offerings (IPOs) and legal procedures. When you’re looking to archive or share confidential documents in a secure environment or speed up due diligence for any kind of business transaction, you need to locate the perfect virtual data room management program to suit your requirements.
A good feature to look for in a VDR is a powerful search tool that can find any document in just a few seconds. It should have a variety of filters and features such as tags, labels as well as optical character recognition (OCR) and auto index numbering. It should also allow you to download an encrypted PDF of any document in just one click.
Choose a software that allows you to modify the appearance of a data room and add a customizable logo that is displayed on every document when it is opened, printed or downloaded. This way, you can prevent screen-shots and other violations of privacy and security.
Lastly, a good data room must include an application for managing tasks that enables you to assign editing and reading tasks to users outside of the room. It should give you an entire overview of each task and its status in order to keep track of the progress.
