It’s for merger and acquisition due diligence, capital raising or tendering, getting all the facts before making crucial decisions demands going through tens or thousands of confidential http://www.giantdataroom.com/what-are-the-different-types-of-due-diligence documents. When the relevant information is in right hands at the right moment it can accelerate the transaction and reduce risk. The information isn’t always accessible and is often hidden behind inconvenient tools for file sharing that are not auditable as well as specific permission settings for documents and dynamic watermarks needed for business transactions that are strategic in nature.
Data room management software is a better alternative. It offers a top down approach to organizing files. Users can easily arrange documents into folders that are easy to navigate according to the type of information being shared or the project phase. Most providers will also support the ability to search for files using many different criteria, from keywords to optical character recognition (OCR).
The most important feature is the ability to access and share documents in high-definition. This guarantees that all parties can see the data clearly regardless of the device they are using. Typically software for managing data rooms will also enable granular security settings for determining who can print, download, and view documents in the virtual data space.
Certain providers offer an individual plan based on the specifics of a transaction and others specialize in certain industries or provide tools for M&A due diligence. Firmex is one example. It is a unique platform that financial and legal service companies use to manage complicated processes like compliance or litigation, as well as diligence.
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