The most important aspect of any Data Room is that it is secure. This usually means that you can use an extensive set of permission settings and auditing capabilities to ensure the information is only visible to those you wish to be able to view it. Watermarks, document expiration dates and other security measures can be important to ensure that data leaks are not happening. It is recommended to look for a company that offers various of these features so that you can tailor your data room to meet your particular requirements.
A dashboard is another important feature that allows you to keep track of the activity in your Data Room. This will allow you to keep in mind who has seen what and for how long, so that you can ensure that your information is only seen by the proper people at the appropriate time. This is especially helpful in M&A deals when you need to share information with third-parties who might not be familiar with your company.
It is also important to ensure that your Data Room can store the documents you’re planning to upload. Choose a service that offers scalable plans and subscriptions, so you can upgrade or downgrade as your data room requirements change. Also, it is essential to know if your provider can provide you with tools for managing tasks within your Data Room that will allow you to assign uploading and reading tasks to users and track their progress.
