Many industries use data rooms software for due diligence collaboration with mergers and acquisitions capital raising as well as legal disputes and other business purposes. Some companies must share their files with third parties for legal reasons as well as others are subject to compliance rules or simply want to virtual data room keep their sensitive data in a secure space. Whatever the reason, they all need secure storage and document sharing solutions.
Whether you need to collaborate with your partners, colleagues or clients or clients, your data room must be able to provide seamless access across all devices and platforms. A reliable VDR should provide multi-platform support and be compatible with all browsers. It should also come with advanced search functions capable of finding exact and partial match in documents and folders. Look for features like two-factor authentication, audit logs, and document version control as well.
You should be able create custom groups that have pre-set permissions to suit the needs of different projects and users. Some VDRs allow you to assign Excel documents with specific View permissions. The View Excel with Formulas option is one example. It allows the user to see only the formulas of the spreadsheet while hiding other information. Other helpful features include dynamic security notifications, a clear and logical access hierarchy and easy-to-use watermarking.
It’s crucial to have a well-organized task management system for M&A deals that lets you assign tasks even when people are still in the dataroom. The system should be able to send out reminders and status updates to ensure that everyone is kept up-to-date. Finally you can add your company’s logo and personalize your workspace using logos, colors and themes.