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

Data room software must be able to handle large volumes of documents. This is typically demonstrated in the number of tools offered by the provider that include multilingual search (about 16 languages) OCRs and file previews, as well as smart AI categories, and translation of documents. A reputable provider will offer a variety of viewing options that permit users to browse documents in their own format or without it.

A reliable provider will employ the most secure encryption levels to protect confidential data. They should also offer a 24 hour multilingual customer helpline and dedicated customer service managers who can help with speedy project start-up, best practices implementation, and expedited due diligence processes.

For example, some providers let you sync shared folders, desktops and FTP to the virtual data room, making it simple to upload and download any file. Other providers offer an automatic naming scheme that makes it easy to manage and locate files. The top providers also permit you to set up different access permissions for view print, secure and view downloads, as well as personalize watermarks that display a user’s name, IP address and the date and time of the document viewing.

A quality VDR should have NDAs in place that can be automatically applied to all users. This will prevent disclosures that are not authorized. It should also include an extensive auditing system that allows you to examine activity and determine who is responsible for what (document and user) when, and how.

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