The most important aspect of any Data Room to consider is its security. Typically, this means you can use the ability to set up granular permissions and monitoring capabilities to ensure that the information is only seen by those you want it to be seen by. Document expiration dates, watermarks and other security measures virtual data rooms usage can be important to ensure that data leaks are not happening. It is recommended to choose an organization that offers a variety of these options, so you can tailor your data room to your requirements.
A dashboard is another important feature that allows you to monitor the activity of your Data Room. This will help you keep track of who has viewed what and for how long so that you can ensure that your data is only viewed by the most appropriate people at the right moment. This is particularly useful in M&A deals where you have to share information with third-parties who may not be familiar with your business.
You should also ensure that your Data Room can store the documents you plan to upload. Choose a service with scalable packages and subscriptions, so that you can upgrade or downgrade as your data room requirements change. Additionally, it is crucial to determine if your provider offers tools for managing tasks in your Data Room that will allow you to assign uploading and reading tasks to users and track their progress.