If you’re looking for a data room solution to help you improve your M&A process or speed up due diligence, the top virtual data room software should have a wide range of features. You should look for a simple platform that doesn’t have a lengthy learning curve and can be used on any operating system or device. It should provide 24/7 customer service and be available whenever you need it.
Datarooms should be equipped with the drag and drop feature that allows them to upload large files quickly, and also create an index in one click. They should also provide advanced search capabilities. These include search tags labels, filters and optical character recognition software to allow full-text search across all documents. They should also be able to merge files into a single PDF document.
The best virtual data room vendor should offer granular security features to shield sensitive data from being viewed by unintentional eyes. iDeals, Citrix and Datasite are vendors that excel in this area with multi-factor authentication for users as well as a custom workflow for deals mobile device management, and access permissions that are granular.
Administrators can invite users to iDeals datarooms either individually or in large numbers. They can also set security options for sign-in and give access permissions, including the possibility to print and read secure PDFs. Administrators can manage the rights of users, and monitor changes via detailed audit logs. They can also create colored reports of top activity to provide a comprehensive overview of group activity. These reports reveal the number and types of users, the number and type of documents accessed, as well as the types that are permitted as well as the number and types of Q&A queries.
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