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Data Room Features For M&A and IPOs
While tools like Dropbox or Google Drive are fine for daily file sharing, when it comes to sensitive information that could be shared in an M&A process or IPO, data rooms offer superior features. As opposed to free file storage services, these are specifically set up to share files in a safe environment. They are able to provide advanced security features, such as auditing, permissions and watermarking that ensures only authorized people can view and download the needed files.
A virtual dataroom permits both parties to conduct due diligence, with a workflow that is controlled for each document. This ensures that confidential information about business operations, such as patents or financial results, is only accessible to interested buyers. Any conversations are kept in the platform. This prevents leaks and decreases the possibility of sensitive information getting into the wrong hands.
Activity audit logs are another key feature of the data room. They provide a comprehensive review of who accessed a document and at what time. This allows the M&A team members to track the interest levels and decide whether to keep the negotiations going or proceed with negotiations. Data room reports can also help teams stay organized by providing an overview of group activities. who has been logged in, who viewed and/or edited which documents and when).
A virtual data room lets users sort through a vast array of files by utilizing a powerful search engine. This includes full-text search, Optical Character Recognition, filtering by label, a range of logical operators and more. The ability to automatically number and index folders and documents allows you to easily locate and organize large quantities of data.
