Dataroom

You can store your data and share it with others in an online data room called a virtual data room (VDR) or e- data room. You don't have to give others access to your data, which is the data room's biggest benefit. You can limit who has access and who has the ability to read-only, read and print, or read print, and download. With IP support data room software you can give access for a limited period and the data will vanish automatically after that period. To conduct physical due diligence, the entire team—which may include attorneys, accountants, technical experts, financial consultants, investment bankers, and many others—must travel to the seller's office. A large team from both sides is needed to set aside their regular work and work on physical due diligence. Additionally, there are now multiple potential buyers for every transaction. For a business, having all prospective buyers and their teams seated in one location working on the same set of documents is very challenging.

There are no such physical restrictions with eDataroom. A seller can easily and efficiently manage multiple DD teams at once with eDataroom.

Uses of dataroom

❖ Prospective buyers who are interested in investing in the company must do their homework. The investor wants to know everything there is to know about the company, including a list of customers, intellectual property, the company's financial position, access to key contracts, and so on./p>

❖ Not only lenders, but also their employees, such as accountants and lawyers, have access to the documents, which significantly increases the risk of confidential information being leaked. VDR safeguards against such threats. Dataroom can be used to safeguard important documents.

Other than risk protection here are another uses of Dataroom:

❖ A writer sharing their script with potential publishers

❖ Iportfolio disclosure by a future model

❖ Tsharing of a designer's creations

❖ haring startup company information with potential angel investors by the founder

❖ Employee providing potential employers with information about his background and experience

❖ When discussing intellectual property (IP),

❖ Sharing of designs or other ideas with customers whose payments are still outstanding for an architect's, designer's, writer's, or other's approval

❖ sharing property records with a prospective buyer

Dataroom Process:

A. To access the data in Dataroom, one has to do an OTP authentication before he can access the file. After OTP authentication on e-mail, person will have to do verification via mobile.

B.The system takes and saves photos of the users who enter a particular data room. This is a premium security option that can be selected to make sure that authorised users don't give their access privileges to people who aren't allowed to access the data room. This feature is distinct from biometric verification based on images. Every time a viewer logs into the data room, his location is recorded in the records as part of the optional premium feature known as "geo tagging." It is noted and entered into the system that his precise longitude and latitude.

The owner of the data room can limit or fence the areas from which a person can access the data room using the optional premium feature of geo-tagging.

Only those who are geographically located in the approved areas will be able to access the data room. He would be unable to access the data room from any other location.

The audit trail feature records and maintains the IP address and time of logging in of all viewers and instances. This aids in keeping track of and controlling who all accesses the platform and from which IP address.

The Activity Tracker feature is far more comprehensive than the Audit Trail feature. This feature keeps track of how much time each viewer spent on each individual document. This informs the data room owner about which viewers are more interested in which documents.