It’s important to have access rights that are granular regardless of whether you’re looking for a virtual data room or a virtual document manager software, or even a secure file sharing platform to conduct due diligence with a prospective business partner. The permissions are at the level of folders and role, or even on activities in the data room. Many providers include multi-factor authentication and time and IP restricted access based on IP. Some providers allow bulk user invitations as well as email notifications for deleted or uploaded files or certain actions.
A secure, centrally centralized platform to share documents is especially useful for companies that perform an extensive amount of due diligence work with a variety of third parties. This is commonplace in M&A transactions as well as when seeking money from private investors. Being able to view all the documentation from both sides quickly and easily will help to ensure that the process is conducted as efficiently as possible.
The top virtual data rooms have an easy-to-use interface as well as numerous tools to help users organize their projects and business operations. Drag-and-drop is among the most popular features. Other features include customizable watermarking and auto indexing. Other useful tools include a redaction tool that can effectively remove sensitive information from documents. This will save you time and effort, as well as reducing the possibility of missing the potential for a costly error.