A data room review is an organization’s storage space, either physical or digital that houses information relevant to due diligence. Investors are looking to ensure that the documentation of the startup is organized and is up-to date during the due diligence process. It makes them feel like there won’t be any hidden surprises. A poorly designed data room will affect the value of an investor. A well-designed one will help them view a startup in a more positive way.

The most effective virtual data room is one that has many features that make it simpler for the users to use them. These features include customizable watermarks, granular settings for permissions and audit reports that track user activity. The most advanced data rooms permit read full-text searches, optical character recognition (OCR) and filtering functions to locate specific documents or a set of files. Additionally a secure VPN connection allows for remote access to the data room.

The ability to support different devices and browsers is the most crucial feature. This allows users to view and work with the data from anywhere, at any time.

Data rooms can help streamline the entire deal process. They can be used as a single place to store all documents, streamline the review and approval of documents as well as coordinate guided signing and much more. Download a no-cost PandaDoc eSignature demo today to learn more!