DealRoom Software

DealRoom data room review

DealRoom launched in 2013 and is headquartered in Chicago, Illinois, USA. Despite being younger than some of its competitors, DealRoom VDR software is widely recognized as an effective, feature-rich solution for project management and M&A deal processing. The service is not cheap. DealRoom VDR provider caters to medium and large-sized companies across many industries. It was created by people who focused on simplifying M&A transactions. 

DealRoom provider offers tailored solutions for all stages and roles in the M&A process. The provider secures sensitive files while simultaneously allowing convenient document viewing to the users with appropriate access privilege levels. The DealRoom VDR software users also highlight enhanced collaboration features and a straightforward, modern interface.

• DealRoom data room offers proof of several industry-defining security standard certifications, such as SSAE 16 SOC 1, SOC 2, FISMA, HIPAA, and ISO 27001.
• The DealRoom customer support team is available 24/7 via live chat, phone, or email. Some users report longer than expected response times. 

There are templates for due diligence, integration, portfolio management office, and many others. Administrators control access to the database. The function of downloading or copying a document may be disabled. The senders can control access to the file even after sending it. Fence View and encryption provide an extra level of security deal room software. Resting-state data is also encrypted. To prevent unauthorized access to protected data, users must complete 2-Step Verification. They have to enter the password from a message sent to their mobile phone or another device.

The software supports files of any format. Consequently, a user does not install additional programs or plugins. The same goes for viewing. It is possible regardless of the format right on the platform without downloading. Among the tools for communicating with colleagues, there are chats, a Q&A module, the ability to leave comments under a file or folder. These options save time. A specific person or group of people are notified of new messages or comments.

Managers control access to the platform and the use of certain functions. By dividing members into groups, they grant them action permissions. For example, only a few people from an organization have access to the most confidential information. It is one of the ways to prevent misconduct. Although administrators manage VDR users, they also can monitor them. The program generates activity reports, which contain information about everything that happens in virtual workspaces. This way, the organization’s bosses can track the interests of investors or potential buyers.