What to Look For in Data Rooms

When most people think of data rooms they’re probably thinking about the due diligence process that is used for merger or acquisition (M&A) deal in which both parties review the documentation that is critical to business. However, today data rooms are used for much more than M&As they also aid with fundraising and equity transactions as well as company restructuring.

This is why there are now many different types of software for managing data and it’s crucial to choose one that meets the needs of your company. Ideally, it should be easy to start and be accessible from any place in Full Report the world, with secure logins, encryption technology and tools to block illegal downloads or access.

Another feature that is important is the ability to create a folder structure that matches your requirements for due diligence or project and assigning reading and uploading tasks to internal team members advisors, third party consultants or other team members. Granular access permissions that can be customised at level of the document and folder are also good. And when it is time to move to the Q&A discussion phase of a potential deal, choose an option that has an intuitive and efficient editing tool that resembles a wiki. It makes it easy to record notes that can only be read by you (and not the other party).

The best online data rooms offer a set of reports that provide administrators with a comprehensive view of user activity, ranging from what documents have been seen to whether or not they have been downloaded or printed. They should also permit users to export data in encrypted format for future usage if needed. Look for a provider who offers 24 hour technical and account management help.