Data Room Software – What to Look For in a Data Room Software Provider

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Data room software must be capable of handling large volumes of documents. This feature is usually evident in the variety of tools offered by the service provider, such as multilingual search (about 16 languages), OCR, file preview as well as smart AI categories and translation of documents. A reputable provider should offer a variety of viewing options enabling users to browse documents without or with their own formatting.

A reputable provider will use the highest encryption level to safeguard confidential information. They should also provide an all-hours, multilingual helpline and have dedicated customer service personnel who can assist with project startup and best practices implementation, as well as speedy due diligence processes.

For instance, certain providers let you share folders, desktops and FTP with the virtual data room, making it easier to upload and download any file. Other providers offer an automatic naming system which makes it easier to organize and find files. You can also assign different access rights to view, print, and secure PDF download. The best providers allow you to modify watermarks, which show a user’s name, IP address, as well as the date and time they were viewing a document.

A quality VDR has NDAs in place that can be applied automatically to all users. This will prevent disclosures that are not authorized. It should also have an auditing system that allows you to drill down into activity, determine who is responsible for what (document and user) when, and how.

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