A data room is a digital or physical storage area where companies keep relevant information in order to facilitate due diligence. During the due diligence process investors would like to know that all company’s documentation is well-organized and current. It gives them the impression that there aren’t any hidden surprises. A poorly prepared dataroom will affect the value of an investor. A well-organized one will make them look at a startup in a more positive way.

The best virtual data rooms include a number of features that make it easier for users to use them. These features include customizable watermarks and permissions that are granular and audit reports for tracking user activity. The most advanced Mastering Document Management data rooms allow for full-text search, optical character recognition (OCR) and filtering capabilities to find specific documents or groups of files. In addition a secure VPN connection allows remote access to the data room.

The ability to integrate with various devices and browsers is the primary feature. This allows users to access and work with data from any place, at any time.

Data rooms can also help simplify the entire process of negotiating. They can be used to organize all documents in one place as well as automate document approval and review, coordinate guided signatures, and many more. To learn more, get free access to PandaDoc’s eSignature application today!