Data room features allow for an easy and quick way to share confidential documents. They can include a variety of tools and features that help with collaboration, security and managing projects, such as e-signatures and sharing files.
A good online data storage facility will offer you plenty of storage space based on the type and amount of data that you upload. Text documents, for instance, will take up less space than high-resolution photos and technical drawings. The best VDRs will also automatically index your uploaded files, which saves your time and helps you find the document you need quickly.
You should be able make multiple folders, best organized by subject or stage in the due diligence process. This can help keep everything logically organised and tidy, plus it can help tick items off the checklist for due diligence quicker. Some VDRs will also let you sort by date the document was added to the folder. This can help reduce the amount of time spent browsing through folders and searching for documents.
Many VDRs let you customize the workspace for collaboration to look similar to your brand and to be recognizable to all parties. This can boost team efficiency and ensure that all users are having the same experience particularly in multilingual environments. You should be able assign tasks and monitor their progress within the VDR. Some VDRs allow users to edit and view files using the original file rather than a secure PDF. Additionally, you can add logos and watermarks to documents to prove the source.