What Data Room Features Should You Look For in a Data Room?

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Investors must be aware of the complete picture of a company which includes its financial condition, growth potential and team. They should also be aware of the competition and other opportunities that exist in the market. Data rooms can be an excellent way to share this information and lessen the burden of due diligence, especially when it comes to a high-value deal or when your company is in a highly controlled industry such as capital markets or healthcare.

When choosing a virtual information room, make sure it is able to be customized and has the capability to upload custom templates and headers for documents. It must also support multiple languages. Additionally, certain VDRs have features such as fence view that prevents the unauthorised viewing of confidential information by only showing a small portion of the file when users hover their cursor over it. Other security features include two-step identity verification, expiration dates and custom watermarks.

To avoid confusion, a data room should also have an organized folder structure and clear, consistent names for files. Sort files according to specific kinds of data, project stage or department and then separate them into subfolders to make it easy to navigate structures. This will assist potential buyers locate the information they require. Some companies also provide advanced tools to track use, such as heat maps that reveal the sections and files that are the most popular for viewing. This helps you quickly identify problems and take action.