When it’s time to choose a data room service, a company might consider not just storage capacity and feature set but also accessibility and quality technical and product support. These small distinctions may seem like a minor thing but they could be a game changer when it comes to a high stakes transaction.
Many industries are now using data rooms in a variety of industries. They are no longer limited to facilitating the due diligence process for M&A deals, but are now being utilized by companies for other critical processes like divestitures, fundraising, and business restructuring.
When selecting a data room provider, it is important to ensure that the software meets international standards. This includes things like two-factor authentication, timed access expiration, multiple permission levels, IP-address based security, and much more. It is also important to take into consideration the customer service offered by the VDR. It should be accessible 24 hours a day, 365 days a year to address any questions or concerns that may arise.
A reputable online deal room service will offer a set of reports that provide information on the activity of users. Administrators can utilize this information to determine who has viewed documents and when. This will ensure that confidential data is protected. In addition the virtual data rooms that are in place can include a number of additional services that aren’t normally found in software for sharing files or physical data rooms. These include adding watermarks to files, preventing downloads, removing screenshots, among other things.
