The majority of people think of data rooms as the due diligence process in the process of a merger or acquisition however, they are also used for other business transactions like fundraising, initial public offerings (IPOs) and legal proceedings. Whether you’re www.managerdesks.com/virtual-data-room-conducting-an-audit-process/ looking to store and share confidential documents in a secure environment or expedite due diligence in any kind of business transaction, it’s important to choose the right virtual data room management software to meet your needs.

A robust search tool is an essential characteristic of an VDR that will allow you to locate any document within seconds. It should include a range of filters and features like tags, labels and optical character recognition (OCR) and auto index numbering. It should also be able to download an encrypted PDF of any type of document with just one click.

Choose a software that allows you to modify the look and feel of a data room and include a logo that you can customize that is displayed on every document whenever it is viewed printed, downloaded or printed. This means you can stop screen-shots and other violations of privacy and security.

In addition, a well-designed data room should have a task management tool that lets you assign editing and reading tasks to other users. It should give you an overview of each task’s status to allow you to keep track of the progress.