When companies think about a virtual data rooms, they think of M&A deals as well as policy audits, fundraising and other long-term projects. These projects require real-time collaboration, the exchange of confidential documents between multiple parties, and a quick due diligence process. Let’s take a look at some of https://dataroomdev.org/tackling-security-concerns-in-mergers-and-acquisitions/ the most common characteristics of data rooms.
Q&A modules
In the course of an M&A deal, the parties often have questions regarding certain aspects of the business and its operations. A effective Q&A tool allows both parties to the potential deal to ask and receive answers to those questions in an organized way, while keeping confidential information secret.
Customization
Some data rooms allow you to personalize the user interface with dashboard images and backgrounds for login pages, allowing companies to maintain their branding. This customization can help to create a professional first appearance and bring teams together in line with the company’s culture.
Drag and drop uploads of files
Some VDRs are so advanced that you can drag and drop multiple documents into the data room at once, easing the upload process and reducing time. Certain VDRs come with an “scroll-through” feature that helps users to navigate through the index of documents. Most data rooms also offer a variety of file formats, including Microsoft Word. This allows users to work with files within the VDR. Some also have optical character recognition, making it easier to search for text within PDFs as well as other images-based documents.
()
