Data room software is a powerful tool which can save your company considerable time and money. It allows you to securely share business documents, manage sensitive information, and accelerate due diligence processes. The best virtual room software will offer you the right features and make it easy and productive. Here are some things you should look out for when comparing different data room software providers.
Simple file management and sensitive data protection and digital rightsmanagement
The best virtual data room interfaces are easy to use. They allow you to upload, organize and share files quickly with your investors, partners, or team. You can also add users and set access permissions.
Document repositories and infrastructure security
Secure virtual data rooms have encrypted document repositories that can protect sensitive information such as financial statements and contracts. They also offer advanced encryption technologies such as AES256 encryption.
Redaction and view from the fence
VDRs also have fence view, which allows you to hide certain parts of files so only the owner can see them. This prevents cybercriminals from copying documents, makes it difficult to screenshot them, and reduces the likelihood of malware infections.
Multi-factor authentication, mobile device management, user security impersonation, time and IP limitation, and multifactor authentication are all important features that help keep data safe. Some providers include an integrated secure email service. This ensures that all email messages are encrypted.
The user permissions that are given to each user based on their role in the organization control data sharing in a virtual data space. This enables administrators to control and monitor file sharing, as well as ensure that internal leaks don’t affect sensitive data.
File sharing controls and dynamic watermarks
Digital watermarks, which are essential for data room security, are a must. These watermarks can be used to prevent unauthorized duplication or sharing of documents and should be visible on any document that is viewed or downloaded.
Other useful tools include file preview and optical character recognition (OCR). These tools can make data management easier and make it easier for you to find the right file. This feature is especially useful when dealing with large amounts of documents.
Smart categories and intelligent file tag technology allow you organize your files into a coherent structure. This can help you speed up the search process, so you can find what you’re looking for in seconds.
You can also use them to create a clear and numbered hierarchy of files and folders in your virtual data room. You can also use them to create customized data room templates that you can customize and use to sign frequently signed documents.
Customizable NDAs and watermarking
You should choose a data provider that allows customization. This will allow you to change the look of your virtual room as well as add your logo and colors. This will help brand your data space and increase visibility within your company. It will also help to ensure that people in your organization can recognize what’s in the data room and understand its content.