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Common Data Room Features

Common Data Room Features

Virtual data rooms are not one-size-fits-all. This is because the features of the virtual data room are designed to support specific types of documents and business processes. For instance, certain data rooms specialize in M&A due diligence, while other deliver tools to support other business operations like tenders and capital raising.

However, there are some universal tools that are essential for http://www.vdrsoftwareonline.com/what-features-does-firmex-offer-that-other-data-rooms-dont all data rooms, regardless of their purpose. One of these features is search functionality. A powerful search feature will assist you in finding information quickly within an archive or document.

Access control is yet another popular feature. In order to ensure integrity of documents, it is necessary to have the ability to create a hierarchical structure which allows users access to individual files as well as complete segments of the repository. It also allows you to monitor activity on the site, such as who has accessed which file and when.

The ability to label folders and documents is also important for organizing documents and making them easy to find. You can accomplish this by creating folders based upon the level of confidentiality, the project stage, or department. You can also group files by type with a top-down approach.

You might, for instance, want to create separate folders for each property you own by your company. In this folder, you could upload documents like sales agreements as well as inspection reports and photographs of the property. This will allow potential buyers to easily review the information, without the need to download or upload a lot of documents.

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