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

Data room software should be capable of handling large amounts of documents. This feature is usually evident in the tools offered by the company, such as multilingual search (about 16 languages), OCR, file preview as well as smart AI categories and translation of documents. A good service provider should offer a variety of viewing options which allows users to look at documents with or without their own formatting.

A reputable provider will use the highest level of encryption to protect confidential data. They should also have a 24-hour multilingual user helpline as well as dedicated customer service representatives who can assist with quick project startup, best practice implementation and speedy due diligence processes.

For instance, some providers allow you to share folders, desktops and FTP with the virtual data room, making it easy to upload and download any file. Some include an automatic naming system, which makes it easier to organize and find files. The top vendors allow you to set up different access rights for viewing printing, print and secure PDF download, as well as customized watermarks that display the user’s name, IP address, and the date and time of document viewing.

A good VDR should have NDAs that are built-in and can be automatically applied to all users. This will stop unauthorised disclosure. It should also come with an auditing system that allows you to drill down into data room software activity, identify who has done what (document and user) when and in what order.

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