Data Room Features For M&A and IPOs
While Dropbox and Google Drive are great for sharing files, data rooms come with more advanced features. They are designed to allow sharing of files in an the most secure. They can provide advanced access to auditing, permissions as well as watermarking, which ensures that only authorized users can access and download essential documents.
A virtual dataroom lets both parties to perform due diligence, and has a workflow that is managed for each document. This ensures that sensitive business information such as patents, financial results, or product developments are only seen by buyers who are interested and ensures that all conversations are kept within the platform. It also helps in preventing leaks and decreases the chance of sensitive information being accessed by the wrong hands.
The audit logs for activity are another important aspect of a data room. They provide a detailed review of who accessed a document and at what time. This allows the M&A team members to monitor interest levels, and decide if they want to continue or proceed with negotiations. Data room reports also aid in keeping teams organized by providing a summary of the activities of the group. Who has logged in, and who has viewed or edited which documents, and when?
A virtual data room lets users sort through thousands of files quickly through a robust search engine. This includes full text search, Optical Character Recognition (OCR) Filtering by labels and a range of logical operators, and blogging platforms more. Additionally, the ability automatically index and number folders as well as documents makes organising and finding massive amounts of data a breeze.