The most important aspect of any Data Room is that it is secure. Typically, this means you can have specific permission settings and auditing capabilities to ensure that the information is only seen by those you wish it to be m&a transaction process visible to. Watermarks or expiration dates on documents and other security measures can be used to prevent leaks of data. It is recommended to look for a company that offers various of these features to enable you to customize your data room to meet your particular requirements.
A dashboard is another essential feature that lets you keep track of the activity in your Data Room. This allows you to keep track of what has been watched and for the length of time, so that your data can be accessed by the proper people at the right time. This is particularly useful in M&A deals when you need to provide information to third-party parties who might not be familiar with your company.
Also, you must make sure your Data Room has enough storage capacity for the amount of documents you’ll need to upload and keep. Find a company that offers scalable packages and subscriptions, so that you can upgrade and downgrade your data room as your requirements change. It is also important to find out if the provider can provide you with tools for managing tasks in your Data Room that will allow you to assign uploading and reading tasks to users and track their progress.