To know the complete picture, whether it’s due diligence for mergers and acquisitions, capital raising or tendering, you’ll have to go through tens or even hundreds of thousands, of confidential documents. If the appropriate information is in hands at the right time, it can help to accelerate the transaction and reduce risk. However, this information isn’t always easily accessible and is frequently hidden behind inconvenient file sharing tools that don’t offer auditing capabilities, permission settings specific to documents and dynamic watermarks required for business transactions that are strategic.
Data room management software is a better alternative. It provides a top down approach to organizing files. Users can easily arrange documents into folder structures that are easy to navigate, based on what http://www.giantdataroom.com type of information is being shared, or project phase. Most providers also allow users to search files based on a variety of criteria such as keywords and optical character recognition (OCR).
One of the most important features is the ability to share and view documents with high-definition. This means that all users are able to see the data clearly regardless of the device they are using. Data room management software typically permits specific security settings to control who can print, view documents, and download them from the virtual data space.
Certain providers offer an individual plan based on the specifics of a deal and some specialize in specific fields or offer tools for M&A due diligence. Firmex is one such example. is a unique platform that financial and legal service firms use to handle complicated processes like compliance or litigation, as well as diligence.