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

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The ability to handle large volumes of files is one of the main requirements for software that manages data rooms. This is typically demonstrated by the variety of tools provided by the service provider, such as multilingual searches (about 16 languages), OCRs File previews, smart AI categories and translation of documents. A reputable provider will provide flexible viewing options that allow users to look at documents in their own format or without it.

A reputable company will employ the highest level of encryption to secure confidential data. They should also offer a 24 hour multilingual customer helpline and dedicated customer service representatives who can assist with rapid project start-up, best practices implementation and speedy due diligence procedures.

For instance, some service providers allow you to synchronize desktops, shared folders and FTP to the virtual data room, making it easy to upload and download any file. Some have an automatic naming system which makes it easier to organize and locate files. The top vendors allow you to set up different access rights for viewing as well as print and secure PDF downloads, as well as customized watermarks that display the user name, IP address and the date and time of the document viewing.

A good VDR will have NDAs that are built-in and can be applied automatically to all users. This will stop unauthorised disclosure. It should also have an extensive auditing system that lets users go into detail and find out what was disclosed (documents and users) as well as the time and date.