A virtual data room allows M&A due diligence more efficient and secure by providing full control over confidential information. With the right permissions, administrators can control viewing, printing secure PDF downloading, and editing of files at the level of a folder and document. Users can focus on the task without worrying who might access or share sensitive files.
In the past, those involved in due diligence or legal proceedings had to travel to a physical place to examine piles of documents, slowing the process and creating the possibility of disclosure by accident. Users can access documents remotely and debate them in real time using the virtual dataroom.
An advanced virtual data room allows users to inquire about their needs and receive answers quickly, increasing collaboration with third party. The software will automatically direct questions to the correct person and keep a log of who responded and when. This creates a clear audit trail and ensures that the questions have been answered.
With an effective search feature it is possible to find any document in the data room without difficulty even if it has been uploaded in an unstructured manner. This is particularly important when a lot of documents needs to be evaluated. By using smart indexing functions, you can search by document title, keyword or even the text content of a page to find results in just seconds.
You can quickly and easily remove sensitive information from documents using the redaction feature. This lets you do so without the necessity to scroll through a document or search for keywords. Using intelligent algorithms, this program will also help you avoid missing any instances of sensitive information, which could potentially be deal-breakers.