When companies think of the idea of a virtual data space, they think of M&A https://dataroomdev.org/tackling-security-concerns-in-mergers-and-acquisitions/ deals, policy audits, fundraising and other long-term projects. These projects require live collaboration, sharing of confidential business documents between several stakeholders and a quick due diligence process. With this in mind, let’s take a look at some of the most frequently used data room features:
Q&A modules
During the due diligence process of an M&A deal, parties often have questions about particular aspects of the business and its operations. A good Q&A tool allows both parties to an M&A deal to inquire and receive answers to these questions in a logical way, while keeping confidential information confidential.
Customization
Some data rooms let you customize the platform by incorporating images of dashboards and login pages backgrounds. This lets businesses maintain their brand. This customization can help to create a professional first appearance and connect teams to share the company’s values.
Drag and drop file uploads
Some VDRs are advanced enough that you can drag and drop multiple documents into the data room simultaneously, streamlining the upload process and reducing time. Some provide the «scroll through» feature that makes it even easier for users to move through the index of documents. Data rooms generally provide a variety of file formats including Microsoft Word. This allows users to work with documents in the VDR. Some also offer optical character recognition, making it easier to search for text in PDFs and other image-based documents.