There will be a vast number of sensitive documents that need to be made accessible to each party when a company is involved in a merger or acquisition. This was traditionally done in a physical room, in which teams and individuals could access the information and do their due diligence. It was a time-consuming and costly to arrange, since people had to wait until the final team left before they could be able to enter.
Thankfully, the introduction of virtual data rooms has helped make this process much easier and less costly. This technology allows groups and individuals to access the data anywhere with an internet connection, which means that they can carry out their due diligence from their offices, without needing to travel far to the physical location. This can save money on travel, accommodation and other costs. This is particularly useful for small businesses that might not have the resources to support these costs.
Virtual data rooms also have other features that are very beneficial to businesses managing sensitive data. These features include redaction, fence view (which blacks out areas of files so that personally-identifiable information stays private), granular access permissions, multi factor authentication, watermarking and even the ability to track downloads and disable screenshots. In addition, many established virtual data room providers offer a free trial for users to try their services before committing to using them.
boardroomkit.com/digital-data-room-for-most-business-processes
