If you’re in charge of facilitating due diligence and want to ease the burden of participants in the project, an online data room might be the perfect solution for your company. However, choosing the right service can take some time and effort since there are many available on the market. It is essential to choose the right company that has an intuitive interface that is in line with your industry, and is simple for everyone in your group to use.

To avoid security breaches, you should search for a data room that offers watermarks as well as other security measures. Some providers also provide the functionality to present a NDA or Terms of Access agreement to users prior to allowing them access to uploaded files. A more efficient sign-off process is also a must-have option.

Another method of improving due diligence is to organize documents into a well-organized and structured folder system. This approach involves making main folders to accommodate each kind of file, the level or security of the project, and subfolders to further split files into easily navigable sections. Choose a service with automatic numbering and file indexing capabilities to keep the structure as well-organized as you can.

It’s also important to look for a virtual data strategic IT planning for future readiness room that has various options for managing files. For instance, iDeals’ virtual data rooms have eight different levels of permissions for controlling access to uploaded documents, including read-only mode, fence viewing, download and editable Excel sheets. Additionally, the platform comes with 256-bit encryption and remote shredding for additional security.