Data rooms, as opposed to file-sharing software, are specifically designed for due diligence and M&A deals. They are designed to offer high-level security, auditing capabilities and watermarking. They can also be customized with customized features for a specific transaction or industry. These tools create an impressive first impression to potential investors and buyers than simple email attachments.

While the term “data room” was originally used to refer to rooms in which documents pertinent to a deal were stored, today’s virtual data rooms are accessible from anywhere with an internet connection and are accessible on any device or platform. They allow teams to share and store large quantities of files simultaneously and serve as a single source of truth for all documents used in the M&A process.

Consider features such as drag-and drop files, live chat, and bulk uploads when choosing a provider for a data room. A user-friendly interface that permits users who are not technical to use the software with no training or documentation can save money and time and help ensure a smooth project. A robust reporting tool that provides real-time visualization of document activity and various export options can help speed up the M&A by allowing faster decision-making.

Choosing a data room that is trustworthy, reliable and has a good track record of client satisfaction is important. Look for companies that have high ratings on review sites and also check out http://www.dataroomportal.blog/what-is-artificial-intelligence-dealroom-service/ what customers have to have to say about their software. iDeals, for example, has a customer satisfaction rating of 95% and offers granular settings for permissions, mobile access management and IP-based restrictions.