A virtual dataroom makes due diligence in M&A more efficient and secure, as it allows you to have complete control over the special info confidential information. With the right permissions, administrators can manage viewing, printing, secure PDF downloading and editing of files at the level of a folder and document. This way, users can concentrate on their work without worrying about who will access or share sensitive files.
In the past, people involved in due diligence or legal proceedings would travel to a physical place to review stacks of documents, thereby slowing the process and creating a risk for accidental disclosure. Users can view documents remotely and discuss them in real-time using the virtual dataroom.
A sophisticated virtual data room allows users to ask questions and receive responses quickly, which improves collaboration with third party. The software will automatically forward questions to the correct person, and keep track of who responded and when. This provides a clear audit trail that ensures all questions have been addressed.
You can easily locate any document you want to look up in the data room, even if it was uploaded in a non-structured manner. This is particularly crucial when you are reviewing a lot of documents. Using smart indexing features such as search, you can search using the title of the document, a keyword or even the text content of the page to get results in a matter of seconds.
With the redaction feature, you are able to quickly and reliably remove sensitive information from the document without having to scroll through the entire file or search using keywords. This tool uses intelligent algorithms to ensure that you don’t miss any sensitive information which could be a major issue.