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The most effective data room software is a reliable, secure platform for sharing and managing sensitive documents with many users. It has features that enable you to efficiently manage documents, track activity and control access for users. You can also select the option that comes with numerous integrations that can be connected to your current applications and workflow. Look for a vendor that allows you to create customized groups of users with pre-defined rights. You can assign tasks to these users within the dataroom or send them email notifications informing them of new files and uploads.

A data management tool is essential to manage the volume of documentation that large companies produce during due diligence. Find a tool that automatically indexes files and folders when they are moved or uploaded. It should have a simple interface, with automatic numbering for folders and files to allow users to navigate information quickly and easily. It should have optical character recognition as well as filters that help you narrow down your file searches and find the information you need.

Some of the top virtual data rooms have the built-in Q&A feature, document approvals, the ability to version and various mobile apps. Find a solution that allows you to remove text, or even entire portions of your document. It should also allow you to use dynamic watermarks which include user name, IP address along with the date and time of downloading.