If you’re looking for an investment data room or an online document management program or a secure file sharing platform to conduct due diligence on a potential business partner, having granular access permissions based upon role or folder level, or even activity in the data room is essential. Many providers offer multi-factor authentication as well as time and IP access restrictions based on IP and time. Some allow bulk user invitations and notification emails for deleted, uploaded or other activities.
A central platform to share documents with many parties is particularly beneficial for companies who do lots of due diligence work. This is typically the case in M&A transactions as well as when raising funds from private investors. Being able to view all the documents from both sides quickly and efficiently helps to ensure that the process is conducted in the most efficient way.
The best virtual data rooms provide an intuitive interface and many options to help users manage their business and projects. Drag-and-drop is among the most popular features. Other options include customizable watermarking, as well as auto indexing. Other useful tools include a redaction tool that can safely remove sensitive information from documents. This can save you time and effort, while reducing the risk of missing the possibility of a costly incident.