The majority of people think of data rooms as due diligence processes during an acquisition or merger but they’re also used in other business transactions, such as fundraising or IPOs, initial public offerings (IPOs) and legal procedures. It is essential to locate a virtual data room management program that allows you to share, collaborate and store confidential documents in a secure environment. It can also aid in the speedy process of due diligence for any business transaction.
A great feature to look for in the VDR is a robust search tool that can locate any document in just a few minutes. It should include a range of filters and features such as labels, tags and optical character recognition (OCR). It should also be able to download an encrypted PDF of any document in just one click.
Look for a tool which lets you customize the look and feel of a data space and include a logo that you can customize that appears on each document when it is opened printed, downloaded or printed. This will help you avoid screenshotting and other violations of privacy and security.
Additionally, a reliable data room should also include an application for managing tasks that enables you to assign reading and editing tasks to users outside of the room. It should give a complete view of each task and its status, so that you can monitor the progress of your work.