Data room features can be a powerful tool for helping companies to improve their business processes, conserve resources and enable collaboration and communication to be more timely. They also offer peace of mind from a security perspective and ensure that sensitive data is kept secure. There are also many other advantages.

If it’s due diligence M&As tenders, or capital raising preparation for and closing the transaction may require sifting through a myriad of documents. This can be lengthy and time-consuming – particularly when the documents are classified as confidential. A data room can assist in this regard by providing a safe environment to review and upload documents, and also allowing organizations to manage access privileges and offer searchable indexes of all uploaded files.

A good data room has an intuitive and user-friendly drag and drop upload feature. This means that users can upload and read documents with minimal fuss, while administrators can quickly review usage of the data room with an extensive group overview report. This will display a summary of activity in each workspace. It will display the number of users who have been invited and logged in and have access to or submitted documents, posted questions, and much more.

A redaction tool is another important feature that lets users block out reference text in a document. This is especially useful when you have to look through several documents, as it eliminates having to manually go through every document. Lastly, an excellent data room comes with fence view features that enables users to see only the area of the document they have the cursor over. This protects sensitive information from being viewed by unauthorised parties.