Data Room Features That Go Beyond Security

Data room features are an effective tool to help businesses simplify business processes, save resources and improve collaboration and communication rapid. They also offer peace of mind from a security standpoint by ensuring that sensitive information is kept safe. However, there are many additional benefits that go beyond these.

The process of preparing for and completing transactions requires a thorough review of thousands of documents, whether it’s due diligence, M&As or tenders, or capital raising. It can be challenging and time-consuming to go through thousands of documents, especially when the information is classified as confidential. Data rooms can assist with this by providing a secure platform to review and upload documents, while also enabling organizations to manage access privileges and offer searchable indexes of all uploaded files.

A well-designed data room includes an intuitive and user-friendly drag-and drop upload feature. This means that users can upload and read documents with ease while administrators can quickly look over the usage of the data room using an extensive group overview report. This will provide a snapshot of activity within each workspace. It will display the number of users who have been invited, who are logged in and have accessed or uploaded documents, uploaded questions, and so on.

Another crucial feature is a redaction tool that lets users selectively remove text from a document. This is especially helpful when you have to look through a large number documents, as it eliminates having to manually search through every document. A good data room will also come with a fence view feature that allows users to only see a specific part of the document they are hovering over. This protects sensitive information from being viewed by unauthorised parties.