In major business events like mergers and acquisitions, capital raising tenders, legal processes, due diligence usually involves the review of tens of thousands of documents. Due diligence can be a difficult task to execute in a timely manner while also ensuring confidentiality and stopping sensitive information from falling into the wrong hands.
A virtual dataroom is a safe repository for sharing sensitive documents with several parties. A effective solution will provide granular control of who can view, edit, and download files. Administrators can also instantly block access to files, even though the files have been downloaded onto devices. Other security features to look for include 2-factor authentication, audit trails, timed access expiry, and custom watermarks that are displayed on the top of files when viewing or printed.
When selecting a platform, it is crucial to take into consideration the number of users, storage capacity, and technical and product support. It is important to ensure that the platform is capable of handling your data needs and can be used across different operating systems. It is also important to select one that provides a range of storage options and pricing policies.
It is also essential to take a look at the interface of the software and its ability to be customized for your particular business. A well-designed interface must be easy to navigate and have concise and clear explanations of the purpose of each feature. The ability to incorporate your personal logo and color scheme will help brand the platform for the user to have a personal touch.