Traditionally, when companies need to display documentation for projects such as an acquisition or IPO in the past, they’ve been sending investors over to look over the documents in a physical data room. This type of process is extremely time-consuming for everyone involved, especially when there are hundreds or files to be reviewed. This is the reason why more and more companies are choosing to utilize virtual data rooms to provide their documentation.
With online data room software, users are able to collaborate on documents and projects in real-time. Users can access documents from anywhere using an app. They can also control their permissions by giving or restricting specific access levels to documents based on their role. Online data rooms can also allow users to add digital watermarks to be visible on all files that are printed, viewed or downloaded.
It allows admins of data rooms to know who has accessed the file when, and for how long. It can also help prevent data breaches, by providing a secure space for the exchange and storage of documents. Another feature that is highly advanced www.vdrproducts.com/ensuring-data-security-exploring-online-data-rooms-advanced-features is redaction. This tool can be useful for those who want to remove images, text or even specific areas of a file. Some VDRs provide this functionality in a number of formats such as PDF, Doc as well as txt, ppt jpg and gif. Q&A reporting is another feature that lets you keep records of all questions as well as answers in a virtual dataroom.