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Data rooms are typically used in mergers and purchases to conduct due diligence, however they can also be used for fundraising, initial public offering (IPOs) and legal proceedings. If you’re looking to save or share confidential documents in a secure environment or speed up due diligence for any type of business transaction, you’ll need to choose the right virtual data room management software for your requirements.

A robust search tool is a crucial feature of an VDR that allows you to locate any document in seconds. It should include a variety of filters and features, such as labels, tags and optical character recognition (OCR) and auto index numbering. It should also allow you to download a PDF encrypted of any document in just one click.

It is also recommended to look for an application that allows you to customize the appearance of a 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 other violations of privacy and security.

A good data room will include tools for managing tasks that lets you allow external users to access and edit documents. It should give you a complete view of each task and its status so you can monitor the progress of your work.