Choosing the Right Data Room Technology

When it comes to sharing sensitive data and documents with a variety of participants during due diligence for an acquisition, data room technology can be a useful way of managing the process. It is important to spend some time analyzing the features and how the platform will actually be used. Then there is the matter of securing the platform using the best security settings.

A key feature many data rooms offer is redaction, which blacks out sections of files to ensure personally-identifiable information stays private. You should also verify the security certifications of the provider to confirm that they are ISO 27001, SOC1/2/3 and GDPR-compliant. iDeals has been tested by FCA and comes with built-in translations, reducing the chance of document leakage.

A VDR can also be used to host virtual roadshows for potential investors. It allows the attendees to receive complete information prior to the presentation, making it easier to communicate in a conversation and speed the decision-making process.

It’s also essential to ensure that a data room can be easily exported after the project or deal is concluded. This is crucial because a business may need to access the data again for future transactions. Data clean room platforms are a great example of this. They allow marketers to import their first-party data and merge it with common identifiers (such as hashed emails or device IDs) using privacy-protection strategies like pseudonymization, noise injection and differential privacy. They then create cohorts for use in a wide range of marketing processes, including activation and creation of audiences.

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