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

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The ability to manage large volumes of files is among the most essential requirements for software that manages data rooms. This feature is usually reflected in the variety of tools offered by the provider, such as multilingual search (about 16 languages), OCR, file preview and smart AI categories, and translation of documents. A reputable provider will offer flexible viewing options that let users browse documents in their own format or without it.

To protect confidential data, a good service provider should utilize the highest level of encryption and security features. They should also offer a 24 hour multilingual user helpline and dedicated customer service managers who can assist with fast project launch, best practice implementation, and speedy due diligence procedures.

For instance, certain providers allow you to sync shared folders, desktops and FTP to the virtual data room, which makes it easy to upload and download any file. Other providers have an automatic naming scheme, which makes it simple to manage and locate files. The top vendors allow you to set up different access permissions to view print, secure and view downloads, as well as customize watermarks that display a user name, IP address, and the date and time of document viewing.

A good VDR should come with built-in NDAs that can be automatically applied to all users to prevent unauthorised disclosure of data. It should also come with an auditing system that allows users to look deeper and determine what was done (documents and users), when and how.