Data Room Software – What to Look For in a Data Room Software Provider

The ability to manage large volumes of files is among the main requirements for data room software. This feature is usually reflected by the range of tools provided by the service provider, such as multilingual searches (about 16 languages) OCRs, file previews, smart AI categories and translation of documents. A reputable provider will offer a variety of viewing options to allow users to examine documents in their preferred format or without it.

A reputable provider will use the most advanced encryption technology to ensure the security of confidential data. They should also have a 24/7 multilingual user helpline and dedicated customer service managers who can assist with quick project startup, best practice implementation and accelerated due diligence processes.

For instance, certain providers allow you to share folders, desktops and FTP with the virtual data room, making it easy to upload and download any file. Others use an automatic naming system which allows you to organize and locate files. You can also set different access permissions to view prints, view, and secure PDF download. The top vendors allow you to modify watermarks, which display a user’s name, IP address, as well as the date and time of viewing the document.

A quality VDR will come with NDAs that are built-in and can be applied automatically to all users. This will stop unauthorised disclosure. It should also have a comprehensive audits system that allows you to go into detail about activities, determine who is responsible for what (document and user) and when, as well as how.