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If you’re in charge the process of facilitating due diligence and you want to lessen the burden on project participants, an online data room might be the perfect solution for your business. There are numerous providers that are available, so choosing the best one will take some time and effort. It is vital to ensure that you select the right company that has an intuitive interface that is in line with your business and will be easy for everyone in your group to use.

You should choose a dataroom that has watermarks or other security measures in order to avoid security breaches. Some providers provide the option to display an NDA (or Terms of Access) agreement to users prior giving them access to uploaded files. A more user-friendly sign-off process is also a must have feature.

A well-organized folder structure is an additional way to enhance due diligence. This involves creating main folders that are associated to a specific kind of file, level of confidentiality or project stage and subfolders to further separate files into easily-navigable sections. To keep the structure as tidy as possible, choose a provider that offers file indexing and auto-numbering features.

You should also consider an online room that provides various options for managing files. For instance, iDeals’s virtual data rooms provide eight different permission levels that manage access to uploaded files. This includes read-only fence view, download, and editable Excel spreadsheets. The platform also offers the security of 256-bit encryption as well as remote shredding.