When selecting a data room software look for features that will assist your team speedily and easily organize files and ensure that they are securely stored. A trusted virtual data room should be able to handle large numbers of file types, provide access to all platforms, be easy to master with a quick process of adoption and come with 24-hour customer service. Furthermore, a central repository that eliminates the necessity for physical storage of documents and printing as well as courier services can significantly cut down on the cost of running your business.
The top VDR providers will provide security features such as document watermarks secure upload and download with granular permissions, multi-factor authentication as well as time and IP access restrictions, and many more. Some of these tools will also provide a more comprehensive audit trail, which will give you an accurate report of activities within your data rooms.
A virtual data room should include a FAQ function which allows you to conceal or eliminate sensitive questions and answers. This will ensure that advisors, investors and buyers will only have access to relevant information during the process.
Finally, consider a platform that is compatible with multiple languages to facilitate collaboration. This will allow your team to communicate more efficiently and ensure that they can work on the same deal from anywhere with an internet connection. In addition the virtual data room that provides different file formats and can be utilized with iOS, Android and Blackberry will allow your team to collaborate regardless of what device they use.