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Data room software lets businesses to streamline, speed up and automate due diligence to prepare for a business deal or IPO. It has powerful delivery modules which allow users to upload documents faster and with greater security. It also provides a variety of security features, including the ability to control document permissions in granular detail, as well as access to view-only documents and custom watermarks. In addition, it offers real-time audit trails and graphical reports that make tracking activity more efficient.
The software supports more than 14 languages, and includes a scroll through functionality to facilitate seamless browsing of files. It also comes with an effective search feature that allows users to find specific text within any file within the data room. It also allows users to make notes on a file that are only viewable by them. This way, if someone other than the third party team accesses the same file, they won’t see the author’s comments.
It is user-friendly and claims to be the simplest on the market. It also comes with a variety of basic features such as bulk uploads via drag-and-drop and Q&A features. It is used in a variety of different industries, such as tax professionals and realtors.
It is compliant and complies with ISO 27001, GDPR, GCP and HIPAA for medical and biotech companies. It provides a secure virtual workspace where users can collaborate on documents in real-time and then share them. Its advanced security features include a bank-level encryption, both in the point of rest and during transport, granular permissions for both folders and files, a password-protected download option, a customizable watermark and the expiration date for viewing documents. It also has an integrated e-signature which integrates with over 30 types of files.