Many industries use data room software for due diligence collaboration with mergers and acquisitions capital raising and legal disputes as well as other business purposes. Some companies have to share their documents with third parties due to legal reasons, while others are subject to compliance regulations or simply need to keep their sensitive data in a secure space. Either way, they all need secure storage and document sharing solutions.
Your data room must provide seamless access to all devices and platforms, whether you are working with clients, colleagues or even partners. A reliable VDR should be compatible with all browsers, and multi-platform. It should also come with advanced search capabilities that are capable of discovering exact and partial matches in documents and folders. Also, look out for features like two-factor authentication and audit logs.
You will be able to create custom groups with pre-set permissions that are set for different projects and users. Some VDRs allow users to create specific View permissions to Excel documents. The View Excel with Formulas option is one example. It allows the recipient to view only the formulas in the spreadsheet, while obscuring other content. Other useful features include dynamic watermarking, security alerts, and a an easy and clear access hierarchy settings.
It’s crucial to have a well-organized task management system for M&A deals that lets you assign tasks while people are still in the dataroom. The system will also be able send reminders and status updates to keep everyone updated. In addition you should be able to add your company’s branding and customize your workspace with themes, colors, and logos.
