If you’re in charge of conducting due diligence and would like to reduce the stress on participants in the project, an online data room might be the perfect solution for your business. However, choosing the best provider could take some time and effort because there are many on the market. It is important to choose the right company that has an intuitive interface that is compatible with your industry, and is easy for everyone to use.

It is recommended to choose a virtual dataroom with watermarks, or other security measures to avoid security breaches. Some providers also offer the ability to display an NDA or Terms of Access agreement to users prior granting access to upload files. A simpler sign-off procedure is also a must have feature.

A well-organized folder structure is an additional way to enhance due diligence. This is accomplished by creating main folders which correspond with a specific kind of file, level of confidentiality or project stage and subfolders to further divide files into easily accessible sections. To keep the structure as tidy as possible, select an online service that provides auto-numbering and file indexing features.

You should also consider virtual rooms that offer various options for managing URL files. For instance, iDeals’ virtual data rooms have eight different permission levels to control access to uploaded files, which include read-only fence view, download, and editable Excel spreadsheets. The platform also offers 256-bit security encryption and remote shredding.