The most important feature of any Data Room is that it is secure. In most cases, this means you can have specific permission settings and auditing capabilities to ensure that the information is only seen by the people you want it to be visible to. Watermarks, expiration dates on documents and other security measures are also helpful to stop data leaks. It is best to look for a provider that has a range of these features so that you can tailor your data space to your specific requirements.
A dashboard is an additional feature that allows you to monitor activity in your Data Room. This will help you keep track of who has viewed what and for how long, so that you can ensure your information is only seen by the most appropriate people at the right time. This is particularly useful in M&A deals where you have to provide information to third-party parties who might not be familiar with your business.
Also, make sure your Data Room can store the documents you plan to upload. It is recommended to choose an option that offers subscriptions and packages that are scalable so that you can upgrade when your needs change. It is also essential to inquire if the service has tools for task management in your Data Room. These tools will allow you to assign reading and uploading duties to users, and keep track of their progress.
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