Andréa Sumé

What Are Data Rooms?

A data room is an online repository that provides a better method of sharing documents and files than email. The most common use is during due diligence for an M&A, it can also be beneficial when a business seeks to attract investors or undertake other projects that require the highest level of confidentiality.

When it comes to M&A tendering, fundraising, and restructuring projects, there’s often a large amount of confidential information shared between multiple parties. It can be difficult to track who has accessed which information, which versions are in use and when changes have been made. With a data room, all the required information can be kept in a single location with access managed by an administrator. It’s a great solution to avoid sharing information that is not authorized and maintain compliance.

As well as storage, there are a variety of other features that are usually included in the majority of virtual data rooms. Drag-and-drop, bulk uploads, optical character recognition (OCR) dynamic watermarking and an advanced search feature can aid in finding documents quickly.

Most data rooms have redaction tools in addition to these features. These tools permit users to block certain parts of a file without breaking the entire file. This is particularly useful for avoiding accidentally missing single or multiple instances of sensitive information within a document, which could have a major impact on the outcome of the transaction or project.

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