What Are Data Rooms?

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A data room is an online, secure repository that lets teams share files and documents in a way that is more efficient than email. Most commonly used during due diligence during an M&A however, it could also be useful when a company seeks to attract investors or carry out other work that requires a high level of confidentiality.

During M&A tendering, fundraising, and restructuring projects, there is often a significant amount of confidential information that is shared between various parties. This makes it difficult to keep track of who has accessed what information, which versions are being used and when modifications were made. All the information you require can be stored in a dataroom, whose access is granted by an administrator. It’s a great way to stop unauthorised sharing of information and maintain the compliance.

Most virtual data rooms include several other features in addition to storage. These include drag-and drop and bulk upload capabilities including automatic index numbering optical character recognition, dynamic watermarking and an advanced search tool that will help you find specific documents in seconds.

In addition to these features and other features, a majority of data rooms provide redaction tools that permit users to selectively cut off specific portions of a document without breaking the document as a whole. This is particularly useful to avoid accidentally missing sensitive information within the document which could have a major impact on the outcome of a project or deal.