Data Room Software – What to Look For in a Data Room Software Provider
Data room software should be capable of handling large amounts of documents. This feature is usually reflected in the number of tools that the provider provides like multilingual search (about 16 languages), OCR, file preview and smart AI categories, and translation of documents. A reputable provider should offer flexible viewing options, which allows users to view documents with or without their own formatting.
A reputable company will employ the highest level of encryption to protect confidential data. They should also offer a 24 hour multilingual helpline for users and dedicated customer service representatives who can assist with quick project start-up, best practice implementation, and expedited due diligence processes.
For example, some providers let you synchronize desktops, shared folders and FTP with the virtual data room, making it easy to upload and download any file. Some providers also have an automatic naming scheme, which makes it simple to arrange and locate files. The top vendors allow you to set different access permissions to view as well as print and secure PDF downloads, as well as customizing watermarks that show a user’s name, IP address, and the date and time of document viewing.
A good VDR should have built-in NDAs that are automatically applied to all users to prevent unauthorised disclosure of data. It should also include an extensive auditing system which lets users drill down and see what was disclosed (documents and users), when and how.