Document storage and sharing security is an important issue for any business company. It can be far from easy to accomplish these actions, as cloud storage is not quite suitable for corporate use. Virtual data rooms are the very tools that can meet most business owner requirements, offering reliable, fast, and easy solutions for various business operations. In this article, we will talk about Datasite Diligence Data Room and review the main benefits that it can offer your company.
Datasite Diligence Virtual Data Room – Overview
Datasite Diligence is the new name for Merrill’s well-known M&A software. In 2020, the company renamed itself and became a truly digital home for M&A, according to the developers themselves.
Datasite provides its services only to large businesses and financial enterprises, its activities are so popular and effective that VDR claims to be a world leader. Indeed, companies around the world have found Datasite to be a worthy provider to entrust their data to. Datasite also helps corporations with complex multi-step transactions, and given all the scale that VDR provides, it’s not surprising that its price point is also much higher than anyone else’s.
Datasite Diligence also provides additional services in the form of consulting, financial services, or content management. The main goal of the provider is to provide its clients with the smooth operation of the site, improved communication, and teamwork.
Datasite VDR meets all regulatory requirements and provides useful services for business operations.
List of Datasite Diligence Features
Datasite Diligence focuses its services on financial transaction resolution and document management. The provider’s list of tasks includes contract drafting ( there are ready-made templates), progress monitoring in the space, document lifecycle management, and more. Below we will provide the main features of Datasite and characterize them:
- Industry solutions
Datasite Diligence provides solutions for a wide variety of industries and transactions beyond M&A transactions. VDRs are also used for bankruptcy, fundraising, IPOs, restructuring, real estate, finance, and biotechnology. However, this is by no means the whole list.
- Document Management
Load your data into the space in a fraction of a second, without any additional steps. Space supports almost any type of file, and you don’t need to format it in advance. This saves you a lot of time. The automatic indexing feature will number all your folders and files instead of you to make them easier to find later. VDR also provides for uploading and retrieving archives after transactions, and a document version control feature.
- File Protection
Datasite Diligence has excellent document security and digital protection features. Administrators can set detailed permissions for documents, which include prohibiting downloading, copying, printing, and forwarding of the document, as well as permissions for viewing. Remote document destruction allows you to revoke user access from any document at any time, even if it has already been downloaded to a third-party device. Customizable watermarks are also a tool to prevent data leakage and allow document activity to be tracked even outside of the VDR. All data is encrypted both at rest and during document exchange.
- Data hosting
The provider guarantees 99.9% uptime 24/7 and provides ISO 27001 certification as a sign of internationally recognized security. VDR also performs continuous data backups.
- Access Security
The login system is also protected by multi-level features such as dual authentication, group, and individual permissions, and setting document expiration dates. This protects your program from unauthorized entry, data leakage, and document corruption.
- Easy to use
VDR requires no additional plug-ins to install. It provides a web-based Excel spreadsheet viewer and a scrollable web-based document viewer.