When companies think about a virtual dataroom, they typically think of long-term projects like M&A or policy audits and fundraising. These projects require real-time collaboration as well as the transfer of confidential documents among multiple parties, and a quick due diligence process. With this in mind, let’s look at some of the most commonly used data room features:
Q&A modules
During an M&A transaction, both parties will frequently have questions regarding specific aspects of the business and its operations. A useful Q&A tool can allow both parties to a potential deal to get answers to these questions in a systematic way, while keeping confidential information confidential.
Customization
Some data rooms allow you to customize the platform by incorporating dashboard images and login pages backgrounds. This lets businesses keep their brand. This customization can help create a professional first appearance and connect teams around the company culture.
Drag and drop files to upload
High-end VDRs allow you to drag and drop multiple documents into the data room at a time, easing the upload process and saving you a lot of time. Some even have a “scroll through” feature that makes it even easier for users to move through the index of documents. The majority of data rooms offer a variety of file formats including Microsoft Word. This allows users to work with files within the VDR. Some data rooms also support optical character identification, making it easier to search text within PDFs or other image-based files.
https://dataroomdev.org/tackling-security-concerns-in-mergers-and-acquisitions/
