The right software for data rooms can make all the difference when it comes to storing sensitive documents and sharing them to facilitate business transactions. The best software allows for easy collaboration, access to documents at any time of day and a dedicated support team to ensure a smooth online data room experience. They also provide advanced features that permit organizations to personalize their data rooms online, with features such as a customizable interface with drag and drop uploading of folders and documents, and smart full text search. For files that are sensitive, they feature watermarks to decrease the risk of unauthorized file sharing and leaks of data.

Insight dashboards and audit reports, as well as alerts provide deep visibility into activity in your data room which helps you stay in charge of due diligence and review of documents. They also come with powerful permissions for users and documents that allow you to keep track of which data and documents are shared, accessed and looked at.

A flexible solution that can be able to handle all types of M&A transactions, Firmex allows customization of the user interface as well as integration with existing systems to provide seamless workflow. Its speedy upload speeds and the ability to grant access permissions in granular increments are ideal for due diligence. In addition, its integrated redaction and DocuSign Integration will ensure that transactions are secure without affecting business processes. It offers flexible pricing dependent on storage and use for storage and usage, including per-storage plans and per-page packages.

Any M&A deal is accompanied by mountains of paperwork, and although the majority of it is digitally stored, it does not mean that handling documents isn’t any more chaotic. Anyone who has worked with email will have experienced documents moving back and forth, becoming lost, and cycling through several versions. A virtual dataroom keeps all documentation required to facilitate a transaction in one safe space, which reduces the amount of paperwork. A well-organized virtual data room can also help to manage the due diligence process by allowing users to assign reading and uploading tasks, and track progress with a detailed task management system.