Data rooms are often utilized in mergers and acquisitions for due diligence, but they can also be utilized to raise money, in the initial public offering (IPOs) and legal instances. You’ll need a virtual data room management program that allows you to share, collaborate and archive confidential documents in a safe environment. It can also help speed up due diligence for any business transaction.
A robust search tool is an important feature of the VDR that allows you to locate any document within seconds. It should include a range of filters and features, like labels, tags and optical character recognition (OCR). It should also allow you to download a PDF-encrypted version of any type of document with just one click.
Find a tool that allows you to customize the appearance of the data room and add a customizable logo that is displayed on every document when it is viewed, printed or downloaded. You can also prevent screenshotting as well as other violations of security and privacy.
Additionally, a reliable data room must include a task management tool that allows you to assign reading and editing tasks to third party users. It should provide a complete view of each task and its status so you can monitor the progress of your work.