Many industries use data room software to conduct due diligence, collaboration as well as mergers and acquisitions, capital raising, legal disputes and other business reasons. Some companies have to share their documents with third-party companies for legal reasons and others are subject to compliance rules or simply need to store their sensitive data in a safe space. Every company needs secure documents storage and sharing solutions.
Your data room should have access to all platforms and devices, no matter if you are benefits of data room software working with clients, colleagues, or partners. A great VDR must be compatible with all browsers as well as multi-platform. It should also have advanced search functions that are capable finding exact and partial match in folders and documents. Consider features like two-factor authentication, audit logs and document version control.
You should be able to build custom groups using pre-set permissions that are set for different users and project needs. Some VDRs permit you to grant Excel documents specific View permissions. The View Excel with Formulas option for example, permits the user to see only the formulas of the spreadsheet, while obscuring other information. Other helpful features include dynamic watermarking security notifications, and an easy and clear access hierarchy setup.
It’s vital to have a well-organized task-management system for M&A deals that allows you to assign tasks while people are still in the dataroom. The system should also be able send reminders and status updates to keep everyone up-to-date. You should also be able to modify your workspace by adding your corporate branding, including logos, colors, and themes.