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A data room is a secure online repository that lets teams share files and documents in a more efficient manner than email. The most common use is during due diligence for M&A however, it could also be useful when a company is seeking to attract investors or to carry out other projects that require an extremely high level of security.

In M&As, tendering, fundraising, and restructuring projects a lot of confidential information is shared among various parties. This can make it difficult to keep track of who has accessed what information, which versions are used and when modifications were made. All the data you require can be stored in a dataroom, whose access is managed by an administrator. It’s a great solution to avoid sharing that is not authorized and also to help ensure compliance.

As well as storage as well as storage, there are a number of other features that are included in the useful content majority of virtual data rooms. Drag-and-drop, bulk uploads, optical character recognition (OCR), dynamic watermarking, and advanced search features can help you find documents quickly.

Most data rooms have redaction tools in addition to these features. These tools allow users to selectively block parts of a document, without breaking the entire document. This is particularly useful to avoid accidentally missing sensitive information in the document which could have a major effect on the outcome of a project or deal.

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