It is likely that you think of the data room as a virtual space that aids due diligence in an acquisition. Both sides of a transaction can access and read sensitive information like financial performance, patents and product development. But a well-designed data room can also support internal file sharing and storage, fundraising and other collaboration initiatives too. Access control is essential for a dataroom to be effective.
Granular permission settings defined on a document and folder level will allow you to control access to sensitive information on an as-needed basis, reducing the possibility of unauthorised disclosures. Also, by logging activity in a data room you’ll be able to track who saw what when and for how long. This will improve transparency and accountability between collaborators.
A good VDR will permit you to erase documents even after they’ve been downloaded. This can reduce the risk of sensitive information falling into improper hands. It will also come with a reliable redaction feature that allows you to block out sensitive information without having to edit the document manually.
Many VDRs offer per page pricing. This pricing might be suitable for small, well-defined projects, however, it could be expensive for larger, complex projects with unclear or unknown www.dataroomconference.com/virtual-data-room-checklist-202 variables. It is crucial to know whether the VDR provider you choose uses charges based on the number of documents or amount of activity in the data room.