Data Room Software Overview

To find all the information regarding important events like mergers and acquisitions, or capital raising, you will have to go through tens of thousands of highly confidential documents. Unfortunately, in the past, physical files were the only option to access all the information required.

Modern datarooms for due diligence make it possible for interested parties to work in tandem on files without compromising security, or exposing sensitive information accidentally. But if you’re comparing providers, how do you determine which are truly worth their price? First, you should look for a mix of simple and advanced tools. Look for a user-friendly interface that encourages collaboration and keeps everybody on track, and look for smart tools such as personally-identifiable watermarks, a unique document tracking mechanism perfect for M&A due diligence processes, and a full audit trail of all file activity.

Another important feature to look for is the capability to customize access permissions for different groups of users. This makes it possible to define read, download and print rights to specific participants within the project. Then you can make sure that sensitive files remain shielded from any external malicious or internal error or accidental exposures.

The best online data room software also enables you to create detailed reports on all the activities of files in your project, which includes who viewed what at what time and who performed what actions using which files, and how many times specific files were downloaded or printed. This information will give you a better picture of how your due diligence data rooms are being utilized and help you optimize their use for future projects.

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