The best virtual datarooms feature features that make it simple for users to access documents and review them. Table of contents drag and drop features as well as folder and underfolder structure and search functions are all included. For enhanced security, they also offer access to files with granular permissions and viewing (e.g. view only, editing and full uploading and downloading and fence view to stop screen printing and unauthorized viewing remote data wiping etc.).
Another factor to consider is whether a VDR has advanced capabilities like Q&A as well as document versioning, to simplify due diligence and ensure projects stay on track. Some, like FirmRoom go even further, offering request management, which integrates all communications and diligence requests all in one place, and can be customized both for buyers and sellers.
Furthermore, a quality VDR allows for a customizable dashboard that shows recent activity and notifications to keep everyone informed. It should also come with features that can speed up the process by eliminating bottlenecks and ensuring uninterrupted distribution. This includes the complete list of participants as well as grouping by roles or participation to speed up the invitation process.
Ultimately, the goal of any data room is to provide all the information needed to reach an agreement while keeping confidential data from being in the hands of a thief. Remember that too much information could be a problem. Investors can get distracted by irrelevant information or make decisions based upon incomplete or unreliable information in the event you share too many.
