https://exdataroom.com/what-is-an-investor-data-room-and-what-to-include/
Data Room Software is used to gather confidential documents from clients, by accountants, tax professionals and other professionals. It also helps streamline due diligence and other processes by making gathering of documents simpler, faster, and safer. The best software facilitates simple collaboration between teams, simple access to the data for third parties and a variety of customization options.
A redaction feature is vital. This lets you remove images, text or particular sections of an document. This is crucial to protect the identity of individuals and to ensure that vital business information is kept private. This can be done on a number of different formats of files, including PDF, DOC, DOCX, XLS PPT, PPTC, JPG and GIF. Some of the more advanced software provides an automatic redaction option that can accelerate the process.
Some vendors provide flat-rate pricing that are suitable for large corporations with long-term projects. This type of arrangement typically includes a fixed monthly fee for an agreed number of administrators, users projects, and storage capacity. Some providers charge a monthly fee for a minimum of 10 months or even an entire year. This is better suited for smaller businesses that require an easier solution.
The location of the provider can also affect data room pricing in that older providers usually charging more than newer ones for the same features. It’s a good idea to compare providers based on their feature sets and determine which offers the best balance of affordability and performance for your project.