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A data room online is a repository for documents accessed via the Internet and secured access via user identification and password. It provides cost savings over traditional datarooms and a variety of benefits like easy access to search and collaboration.

The seller must upload relevant documents to an online dataroom, so that they can be viewed and accessed by the buying side. Due diligence is an essential aspect of the M&A procedure, and failing to upload all the necessary documents can delay or stop a deal.

M&A VDRs come with a range of features. From simple drag-and-drop file uploading, to optical character recognition which indexes and creates a logical structure for the data room by using index numbers. Some offer document permissions that are granular which allow users the option to define access restrictions for specific folders and files. Multi-factor authentication is another option, that allows users to verify their identity in a few simple steps, for example, by entering an SMS code.

A reliable online data room provider will have a support team who are available 24/7 to answer any questions. Some have chat or phone line, while others have support channels that include live video calls and email. They also offer comprehensive assistance guides, as well as a Q&A section where users can ask questions to experts.

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