Data rooms are typically used in mergers and purchases for due diligence, but they can also be utilized for fundraising, initial public offering (IPOs), and legal instances. Whether you’re looking to store, share and collaborate on confidential documents in a safe environment, or speed up due diligence in any kind of business deal, you’ll need to locate the perfect virtual data room management software for your requirements.
A robust search engine is a key characteristic of an VDR that allows you to locate any document in seconds. It should come with a variety of filters and features, such as tags, labels and optical character recognition (OCR). It should also allow you to download a PDF-encrypted version of any document with just one click.
Find a tool that allows you to alter the look and feel of the data room and add a customizable logo that appears on each document when it’s viewed printed, downloaded or printed. This way, you can prevent screen-shots and other violations of security and privacy.
A well-designed data room should include a tool for task management that allows you to assign users from outside to read and edit documents. It should provide a complete overview of each task and its status, so that you can track the progress of your work.