Data Room Features

When companies think of a virtual dataroom, they usually think of projects that are long-term in nature, such as M&A, policy audits, and fundraising. These projects require live collaboration, the exchange of confidential business documents between multiple stakeholders, and a speedy due diligence process. Let’s take a look at some of the most common characteristics of data rooms.

Q&A modules

In the course of an M&A deal, the parties frequently have questions regarding specific aspects of the company and its operations. A good Q&A tool will let both parties ask questions and receive answers in a structured way while keeping confidential information confidential.

Customization

Some data rooms let you modify the platform by incorporating images of dashboards and login pages backgrounds. This allows businesses to maintain their branding. This customization can help to create a professional appearance and bring teams together 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 one time, streamlining the upload process while saving much time. Certain VDRs come with an “scroll-through” feature that helps users navigate through the document index. In addition, most data rooms support a variety of formats, such as Microsoft Word, allowing users to work with the documents within the VDR. Some also offer optical character recognition, which makes it easier to find text within PDFs as well as other documents based on images.

https://dataroomdev.org/tackling-security-concerns-in-mergers-and-acquisitions/