A virtual dataroom makes due diligence in M&A more efficient and secure, since it provides complete control over confidential information. With granular permissions administrators can manage viewing, printing secure PDF downloads and file editing on an individual level and within folders. Users can concentrate on the job at hand without worrying about who can future technologies access or share sensitive files.
In the past, those involved in due diligence or legal proceedings would visit a physical location to peruse piles of documents, slowing the process and creating the possibility of disclosure by accident. With the use of a virtual data room users can review and discuss important documents in real time.
A virtual data room that is modern allows users to post questions and receive answers quickly. This helps improve collaboration with third parties. The software will automatically forward questions to the correct person, and keep track of who replied and when. This creates a transparent audit trail that ensures all questions have been addressed.
You can easily locate any document you want to look up in the data room even the documents were uploaded in a non-structured manner. This is especially important when a large volume of documents have to be scrutinized. By using smart indexing functions, you can search by document title, keywords or even the text content of a page to get results in a matter of seconds.
With the redaction feature, you are able to quickly and easily remove sensitive information from documents without having to scroll through the entire document or search using keywords. Using intelligent algorithms, this program will also help you avoid missing any instances of sensitive information, which could potentially be deal-breakers.