When companies think of the https://dataroomdev.org/tackling-security-concerns-in-mergers-and-acquisitions/ idea of a virtual data space, they are thinking of M&A deals policies audits as well as fundraising projects. These projects require live collaboration, the exchange of confidential business documents among multiple stakeholders, and a speedy due diligence process. With this in mind, let’s take a look at some of the most common data room features:
Q&A modules
During an M&A deal, the parties often have questions about specific aspects of the company and its operations. A useful Q&A tool can let both parties ask questions and receive answers in a systematic manner while keeping confidential information private.
Customization
Certain data rooms allow users to personalize the platform using dashboard images and backgrounds for login pages, allowing businesses to keep their branding intact. This can be an important element of creating an impressive first impression and bringing teams together around the company culture.
Drag and drop files to upload
High-end VDRs allow you to drag and drop multiple files into the data room at one time, easing the upload process and saving you lots of time. Some VDRs provide a «scroll-through» feature that lets users navigate through the index of documents. The majority of data rooms offer a variety of file formats including Microsoft Word. This allows users to work with files stored in the VDR. Some also support optical character recognition, which makes it easier to search for text in PDFs and other documents based on images.