Data Room Software Overview

For major events such as mergers and acquisitions, tenders, and capital raising, getting all the facts takes combing through tens of thousands of highly private documents. In the past, the only way to get all the information needed was to look at physical files.

Modern datarooms for due diligence enable interested parties to work in tandem on files without compromising security, or exposing sensitive information accidentally. If you’re comparing providers, how do you determine which ones are truly worth the price? Look for a combination of basic and advanced features. 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 aspect to look for is the ability to customize access permissions for different groups of users. This makes it possible to assign read, download, and print rights to specific individuals within the project. This will ensure that sensitive files stay protected from any malicious external actions, internal errors, or accidental unsolicited exposures.

The top data rooms online also permit you to create detailed reports of all the file activities within your project. This includes who has viewed which files when and who carried out what actions on which files and the number of times certain files have been downloaded or printed. This data will allow you to get a better picture of how your due diligence data rooms are being utilized and how to optimize their use for future projects.

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