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Activity Alert System: Why You Need It In Your Deal Rooms

    

When in search of a virtual data room for your M&A deal management, what are you looking for in a provider? A secure online meeting place for all parties involved in the deal? Full control during online due diligence processes? A secure online data repository to simplify the cooperation between all parties?

The virtual data room has evolved to become a complete tool to facilitate the entire deal course.

Successful deal closures require an understanding of many concurrent deals and events within the firm. Often times, this level of awareness is difficult, especially as the quantity and level of complexity involved in the deals increases. When choosing a software to adopt, it is crucial to ensure that your virtual data room offers an activity alert system. These systems provide a series of activity alerts to ensure that users can access newly added documents quickly and with ease.

What is the Practical Use?

Activity alert systems can be used to send out emails informing users of newly-created documents. This is especially useful in the act of negotiating contracts. Whether you're an investment banker, a lawyer, or any other classification of deal maker, time is scarce and any tool to mitigate risk and increase productivity should be utilized.

Receive Frequent Audit Logs

Using an audit log in your deal room gives insight into which documents investors/buyers downloaded or viewed online, to guide you in next steps. This will help to identify the most interested parties, so you can reject bids from less informed individuals. Audit logs will also monitor progress of final due diligence.

Audit log exports allow you to export all activity in the audit log into .csv format. You can choose to export by date range or select a specific user (or all users). This feature is available to data room administrators.

Enhance Security for Your Data

Activity logs allow activity to be tracked, showing who is accessing what, who is active in the deal process, and who is doing what with specific documents. As a result, a clear, transparent record of user activity can easily be summoned when a question arises or in the case of a legal dispute. This information can be critical when a response to compliance or remediation is required.

Stay Informed of Upcoming Deadlines

Document notifications inform relevant parties when a document is changed or added in the data room. This feature is enabled on the Users page- you can select for yourself or others to be notified of new uploads in the data room. Notifications are sent hourly (when there is activity) for folders and documents that each user has permission to access.

Activity alert systems offer key benefits that can enhance productivity, boost security, and offer critical organization and management when conducting deals. The implementation of an activity alert system is the perfect tool for getting a deal done efficiently and with ease.

Download the Guide to Secure File Sharing Software