https://www.dataroomhub.blog/cheapest-data-management-solutions-for-the-buy-side

Many industries use data rooms software to facilitate collaboration and due diligence for mergers, acquisitions capital raise and legal disputes as well as other business purposes. Certain companies are required to share their data with third-party companies for legal reasons or for compliance reasons, while others are subject to compliance regulations or simply need to keep their sensitive data in a secure space. Every company needs secure document storage and sharing solutions.

Your data room must be able offer seamless access to all devices and platforms, whether you are working with clients, colleagues, or even partners. A great VDR should be compatible with all browsers as well as multi-platform. It should also include advanced search capabilities that can identify complete and partial matches within folders and documents. Also, look out for features such as two-factor authentication and audit logs.

You should be able to create custom groups that have pre-set permissions that meet the requirements of different users and projects. Some VDRs allow users to create special View permissions for Excel documents. For instance, the View Excel with formulas option allows the user to see the formulas within the spreadsheet, but keep other information hidden. Other features that are useful include dynamic security notifications, clear and logical access hierarchy and easy-to-use watermarking.

For M&A deals, it’s important to have a solid task management system that is able to assign tasks to individuals while they’re in the data room. The system should be able to send out reminders and status updates so that everyone is kept up-to-date. Additionally you are able to include your company’s branding and customize your workspace with logos, colors and themes.