A virtual dataroom makes due diligence in due diligence process M&A more efficient and secure since it allows you to have complete control over the confidential information. Administrators can manage file editing printing, viewing and secure PDF downloads at levels of the document and folder with specific permissions. Users can focus on their task without worrying who might access or share sensitive files.
In the past people involved in due diligence or legal proceedings would travel to a physical location to review piles of papers, slowing down the process and posing the risk of accidental disclosure. With a virtual data space, users can remotely review and discuss important documents in real time.
A virtual data room that is advanced lets users ask questions and get answers quickly. This makes it easier to collaborate with third party. The software will automatically send these questions to the right person and keep track of who has responded and when. This provides a complete audit trail, and helps ensure that the questions have been answered.
With an effective search feature that allows you to locate any document in the data room easily even if it’s been uploaded in a non-structured way. This is particularly important when a large number of documents have to be examined. You can search for documents based on title or keyword, or even the content of a website with the help of smart indexing tools.
With the redaction feature, you are able to quickly and effectively remove sensitive information from any document without having go through the entire document or search using keywords. Using intelligent algorithms, this program will also prevent you from missing any instances of sensitive information, which could potentially be deal-breakers.