A data room review is the process of comparing and reviewing different virtual data rooms to determine the one that best suits the needs of a company. They are typically used for due diligence for M&A and other transactions. However, they can also add benefits to startups that are raising capital by providing investors with an overview of the company.
There are many aspects to look out for when evaluating a data room. Storage capacity, features, accessibility are all important. In the ideal scenario, a data room should be big enough to accommodate the amount of data to be uploaded and stored during due diligence. It should also provide a variety search options and various formats for files, including optical character detection full-text searches, documents tags and other features that enable finding information fast and easy.
Besides storage, a good data room should be accessible from any device and operating system, without the need for plugins and an intuitive interface. It should also have the ability to ask questions and collaborate tools to ensure that all the stakeholders are on one page. It is also essential to determine if the data room allows watermarks. This will help limit the unnecessary duplication and sharing. It is also recommended to check the speed of the platform in relation to uploading and downloading large documents. A high-performance dataroom should be able to handle an enormous amount of files without downtime.