When it comes to virtual data rooms, there’s no such thing as one-size-fits-all. This is because the features of virtual data rooms are designed to support specific types of documents and business processes. Some data rooms are specifically designed in M&A due-diligence, whereas others offer tools to aid other business functions like tenders and raising capital.
There are tools universal to all that are required for all data rooms regardless of their intended function. One of these features is search functionality. A powerful search function will assist you in finding information quickly within the folder or document.
Another feature that is frequently used is access control. Maintaining document integrity requires the ability to design a hierarchical structure which allows users to gain access to individual files, as well as to entire segments of a repository. It is also a way to monitor activity on the site, such as who accessed what file and at what time.
Labeling folders and documents also helps to organize documents and make them easier to find. Making folders based on confidentiality level, project stage or department is a method to accomplish this. You can also take the top-down approach and categorize files http://www.vdrsoftwareonline.com/types-of-funds-available-for-investing-in-private-equities according to type.
For instance, you may want to create a folder for each property that your company owns. You can upload documents such inspection reports or sales agreements, as well as photos of the property in this folder. This will allow potential buyers to easily review the information without having to download or upload a lot of documents.
