The majority of people think of data rooms as the due diligence process in an acquisition or merger however, they are also used for other business transactions such as fundraising and initial public offerings (IPOs) and legal processes. You must find the right virtual data room management program that will allow you to collaborate, share and store confidential documents in a safe environment. It can also aid in the speedy process of due diligence for any business transaction.
A robust search tool is an important feature of a VDR that allows you to locate any document in seconds. It should have a variety of filters and features, such as labels, tags as well as optical character recognition (OCR) and auto index numbering. It should also permit you to download a PDF encrypted of any type of document with just one click.
You should also search for a tool that lets you alter the appearance of your data room and add a customizable watermark that is displayed on each document that’s printed, downloaded or looked at. This means you can stop the taking of screenshots and other breaches of privacy and security.
Finally, a great data room must include a task management tool that enables you to assign reading and editing tasks to other users. It should give you a complete view of each task and its status, so that you can track the progress of your work.