Traditionally, when companies have to show documentation for a project, such as an acquisition or IPO, they have been sending investors over to review the files in a physical data room. This type of transaction is extremely time-consuming for all involved especially when there are hundreds or documents to be viewed. This is why more companies are choosing to make use of virtual data rooms to provide their documentation.
Online data room software lets users collaborate in real-time with documents and projects. Users can also access documents while on the move using an app. They can also manage their permissions by setting or limiting certain access levels to documents according to their job. Online data rooms allow users to add digital watermarks that will appear on all files that are viewed, printed or downloaded.
This allows the administrators of data rooms to keep track of who accessed what file, when, and for how long. It can also help secure data by providing a secure space to exchange documents. Another advanced feature is redaction. This tool is helpful in the event that great site you want to delete images, text or particular parts of a file. Some VDRs offer this functionality in different formats, including PDF, docx, and txt and ppt jpg. Q&A reporting is another feature that allows you to keep a record of all questions and answers throughout the virtual dataroom project.