A data room is a secure online document storage platform that can be used to share and exchange confidential documents. It is often used during the due diligence phase of an acquisition, but is becoming increasingly used for other reasons, including fundraising and business restructuring.
Data rooms are designed to speed up and aid in the due diligence process. They permit companies to share sensitive documents with potential business partners and investors in a secure and easy-to-use environment. They are suitable for many different business transactions that include mergers and acquisitions (M&A) and joint ventures, capital raising restructuring, listing on the stock market, and debt financing.
Users are invited by virtue of their contribution or role in an initiative, using an array of pre-defined or custom email addresses. They can then be granted or restricted access to the folder groups, individual documents, or the entire contents of the data room. This ensures that only those with the right to view the information are able to be granted access and helps avoid sharing that is not authorized. Audit trails for users are made available to ensure that all can see who has seen what and when – essential for legal reasons.
The robust security features include watermarking, role-based access, security www.deliberatedomain.com/ scanning for viruses and encryption of data. The system can be set up for specific compliance standards in the biotechnology, legal and medical sectors, including ISO 27001 and GDPR, GCP and HIPAA. This will increase the efficiency of work processes and reduce operating costs.