For significant events like mergers and acquisitions, tenders, and capital raises, obtaining all the information required requires searching through tens of thousand of highly confidential documents. In the past, physical files were the only option to access all the information needed.
Modern due diligence datarooms enable interested parties to work simultaneously on files without compromising security, or exposing sensitive information unintentionally. If you’re comparing providers, how can you tell which are truly worth the cost? Find a blend of advanced and basic features. Look for a user-friendly interface that encourages collaboration and keeps everybody on track, and look for smart tools such as personally-identifiable watermarks, a unique document tracking mechanism perfect for M&A due diligence processes, and a full audit trail of all file activity.
Another important aspect to look for is the capability to customize access permissions for different groups of users. This lets you set read, download, and print rights to specific stakeholders in the project. You can then ensure that the sensitive documents are safe from unauthorized external activity, internal mistakes or accidental exposure.
The most effective online data room software also allows you to create detailed reports of all activities within your project, such as who viewed what when and who did what using which files, and how often certain files were downloaded or printed. With this insight you will be able to get a clear picture of your due diligence more use of the data room and maximize the use of the tool for future projects.