A virtual dataroom can make due diligence in M&A more efficient and secure, as it grants you complete control over confidential information. Administrators can regulate file editing, viewing, printing and secure PDF downloads at level of the document as well as the folder, with restricted permissions. Users can concentrate on the job at hand without worrying about who can access or share sensitive files.
In the past, people involved in legal or due diligence proceedings would travel to the actual location to look at stacks of documents, slowing the process and increasing the risk of disclosure by accident. With the use of a virtual data room users can review and discuss important documents in real time.
A virtual data room that is sophisticated lets users ask questions and receive answers quickly. This facilitates collaboration with other parties. The software will route questions to the correct person, and keep a record of who replied and when. This creates a clear audit trail, and helps ensure that each question has been addressed.
You can easily find any document in the data room even if it was uploaded in a non-structured format. This is particularly important when looking through a huge number of documents. You can search for documents by title or keyword, or the content of a website with the help of smart indexing tools.
With the redaction feature, you are able to quickly and easily remove sensitive information from the document without having to scroll through the entire document or search for keywords. The tool makes use of sophisticated algorithms to ensure that you don’t miss any sensitive information that could be a deciding factor.