When companies think about the concept of a virtual dataroom, they usually think of projects that are long-term in nature, such as M&A and policy audits and fundraising. These projects require real-time collaboration, the exchange of confidential documents between various stakeholders, and a quick due diligence process. Let’s take a look at some of the most common features of data rooms.
Q&A modules
During the due diligence phase of the due diligence process in an M&A deal, parties may have questions about particular aspects of the company’s operations. A good Q&A tool allows both sides of an M&A deal to inquire and receive answers to these questions in a logical manner, while also keeping confidential information secret.
Customization
Some data rooms allow you to personalize the user interface with dashboard images and login page backgrounds, allowing companies to maintain their branding. This is an important part of making a a professional first impression and uniting teams around the company culture.
Drag and drop files to upload
Some VDRs are so advanced that you can drag and drop multiple documents into the data room simultaneously, streamlining the upload process and saving a lot time. Some offer a “scroll through” feature to make it simpler for users to navigate through the document index. In addition, most data rooms are compatible with a range of formats, such as Microsoft Word, allowing users to work with the documents stored in the VDR. Some also have optical character recognition, making it easier to find text in PDFs and other documents that are based on images.
https://dataroomdev.org/tackling-security-concerns-in-mergers-and-acquisitions/