What Data Room Features Should You Look For in a Data Room?

As a business owner you’re likely to require the highest level of security for your personal documents and data. This is why you need a virtual data room with an extremely high level of auditing and encryption capabilities, along with robust features that block unauthorised access to information in your documents. This includes password protection as well as user authentication and multi-factor identification.

Take into consideration your storage capacity and the size of a data room based on the number of documents and data files you’ll upload. Some data rooms offer electronic signatures that save time by making it easier to reduce the time required to obtain NDAs signed prior to allowing third parties to access your intellectual property and financial data.

A complete search tool that allows you to locate specific information within the documents in a data room is a valuable feature as well. This is particularly useful in the event that you have uploaded a large number of PDFs to the repository and do not want to spend time scrolling through each one manually. Search filters and optical character recognition could simplify your work.

In addition to searching for and retrieving information, you’ll also want a reliable redaction tool to allow you to quickly and effectively block sensitive information from any document. Manually deleting sensitive data can be prone to errors, and you may miss a single instance or multiple instances. This could have a major impact on the outcome of a deal. Automated redactions will ensure that only the data you’d like to reveal is made available to a potential buyer. This will help your team save time and allow them to work more efficiently.