A virtual dataroom makes due diligence in M&A more efficient and secure as it gives you full control over confidential information. Administrators can control editing printing, viewing and secure PDF downloads at levels of the document and folder with restricted permissions. This lets users concentrate on the task at hand without worrying about who can access or share sensitive documents.
In the past individuals involved in due diligence or legal procedures would have to travel to a location in order to look at stacks of paperwork, slowing the process and increasing the risk of accidental disclosure. With the use of a virtual data room users can remotely review and discuss important documents in real-time.
A virtual data room that is advanced allows users to ask questions and get answers quickly, improving collaboration with third parties. The software automatically routes questions to the correct person, and keep a record of who has responded and when. This creates a clear audit trail, and helps ensure that the questions have been answered.
With an effective search feature that allows you to locate any document within the data room without difficulty even if it’s been uploaded in a non-structured way. This is particularly crucial when looking through a huge number of documents. You can search documents by title, keyword, or even the content of a web page with the help of smart indexing tools.
It is easy and reliable to remove sensitive information from documents using the redaction feature. This allows you to do so without having the requirement to scroll through a file or search for keywords. The tool makes use of sophisticated algorithms to ensure that you don’t lose any sensitive information that could be a deciding factor.