A data room is an online secure repository that allows teams to share documents and files efficiently than email. Most commonly used during due diligence for M&A, it can also be beneficial if a company seeks to attract investors or carry out other work that requires an extremely high level of security.
In M&A, tendering, fundraising and restructuring projects, there’s usually a significant amount of confidential information shared among multiple parties. This can make it difficult to keep track of who has accessed what, what versions are used and when modifications were made. In a data room, all the information needed can be kept in one place, and access controlled by an administrator. It’s a great way to stop unauthorised sharing and to ensure compliance.
The majority of virtual data rooms offer many other features aside from storage. These include bulk upload and drag-anddrop capabilities as well as automatic index numbering, optical character recognition, dynamic watermarking and an advanced search tool that can help find specific documents in seconds.
The majority of data rooms provide redaction tools in addition to these options. These tools permit users to block specific parts of a file, without breaking the entire document. This is particularly useful in avoiding missing one or multiple instances of sensitive information in a document, which could have a significant impact on the final outcome of the deal or project.
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