The best virtual datarooms have features that make it simple for users to access documents and look over them. Table of contents drag and drop capabilities, folder and underfolder structures and search functionality, are all included. To ensure security, they also offer specific permissions for sharing files and viewing (e.g. view only, editing, and full downloading and uploading and fence view to stop screen printing and unauthorised viewing; remote data wiping, etc.).).

A VDR should also offer advanced capabilities like document versioning and Q&A to speed up due diligence. This will aid in keeping projects on track and ensure they are completed. Some, like FirmRoom go even further, offering request management, which can synchronize all communication and diligence requests in one place, customized both for buyers and sellers.

A good VDR can also offer a customizable dashboard which shows the most recent activity and notifications so that everyone is up-to-date. It should also have features that speed up the process, eliminating bottlenecks, and ensuring a continuous distribution. This includes the list of all possible participants and grouping them by role or participation to help speed up the invitation process.

The goal of a data room is to ensure that data that is sensitive doesn't get into the wrong hands. It is important to keep in mind that there's a thing as too much data- if you share more data than required, investors could be distracted by irrelevant information or take decisions based on unreliable or incomplete information.