Data Room Features
The data room permits rapid and easy sharing of confidential documents. They may include a range of tools and features for collaboration, security and the management of the project, such as files sharing, e-signatures and document indexing.
A good online data room will provide you with plenty of storage space based on the type and amount of data that you upload. Text documents, for instance, will take up less storage space than high-resolution photographs and technical drawings. The best VDRs index your documents automatically, thereby saving you time and helping you find the information you need quickly.
You should be able to make multiple folders, best organized by subject or stage of the due diligence process. This is great for keeping everything neat and organized, plus it can help to complete the checklist for due diligence quicker. Some VDRs allow users to filter their files based on the date that the document was uploaded to the folder. This can help you save time scrolling through the folders and searching for the documents.
Many VDRs allow you to customize the workspace for collaboration so that it has a look and feel that is familiar to everyone involved. This can increase team efficiency and ensure that all users have the same experience, particularly in multilingual environments. You should be able to assign tasks and track their progress within the VDR. Certain VDRs allow users to edit and view files directly from the original file rather than using an encrypted PDF. You can also add watermarks to these documents to serve to prove their source.