The most important thing to consider in any Data Room is that it is secure. Often, this means that you can have granular permission settings and auditing capabilities to make sure that the information is only visible to those you want to be able to view it. Document expiration dates, watermarks and other security measures are also helpful to stop data leaks. You should choose a data room provider who provides a range of these features, so you can customize your data room according to your preferences.
A dashboard is another essential feature that allows you to keep track of the activity in your Data Room. This will allow you to keep track of what has been watched and for how long, so that your information is accessible to the correct people at the appropriate time. This is especially useful in M&A deals where you need to provide information to third-party parties who may not be familiar with your company.
It is also important to ensure that your Data Room can store the documents you’re planning to upload. Choose a service that offers scalable packages and subscriptions so that you can upgrade and downgrade as your data room requirements change. It is also important to find out if the provider will provide tools for managing tasks within your Data Room that will allow you to assign reading and uploading tasks to users and monitor their progress.