Data room features allow for an easy and quick way to share confidential documents. They can offer a variety of tools and features that aid in collaboration, security, and administration of the project. These include files sharing, e-signatures and indexing of documents.
A good online dataroom will provide plenty of space to store your data based on its type and volume. Text documents, for example, will take up less space than high-resolution photographs and technical drawings. The most effective VDRs will also automatically index your uploaded documents which will save your time and helps you find the document you need quickly.
You should be able set up multiple subfolders and folders that are labelled by topic or stage of the due diligence process. This can help keep everything organized and tidy as well as helping to complete the checklist for due diligence quicker. Certain VDRs allow you to sort by date the document was added to the folder. This can help reduce the time spent scrolling through folders or searching for documents.
Many VDRs let you customize the collaborative workspace to ensure it resembles your brand and looks familiar to all parties involved. This can boost the productivity of teams and ensure that all users are using the same software particularly in multilingual environments. You should also be able to assign tasks to the VDR and monitor the progress as it happens. Certain VDRs let you to edit and view files using the original file instead of a secure PDF, and add logos and watermarks to documents to prove the source.