Most people think of data rooms for the due diligence process during an acquisition or merger however, they are also used for other business transactions like fundraising or initial public offerings (IPOs) and legal procedures. Whether you’re looking to store documents, share and collaborate on confidential documents in a secure environment, or speed up due diligence for any kind of business transaction, you’ll need to find the right virtual data room management software to meet your requirements.

A great feature to look for in a VDR is a robust search tool that can locate any document in just a few seconds. It should include a range of filters and features such as tags, labels, optical character recognition (OCR) and auto index numbering. Furthermore, it should allow users to download an encrypted PDF of any document with just one click.

You should also search for an application which lets you modify the appearance of your data room and also add a custom watermark that is displayed on each document that is printed, downloaded or viewed. You can stop screenshotting as well as from this source other breaches of privacy and security.

In addition, a well-designed data room should include a task management tool that lets you assign editing and reading tasks to external users. It should provide you with complete information about each task and its status in order to track your progress.