The software for your data room is a unique due diligence tool that gives structure, organisation and ease of use to a complicated and protracted process. In M&As and tenders, capital raising, as well with other corporate events numerous documents must be reviewed in order to arrive at an informed decision. It is time-consuming to look through all the information and it is susceptible to mistakes.
Fortunately, there are many key features that can help to make the review process more efficient. One of the most beneficial features is a powerful Q&A feature that lets you add comments, questions, and answers in real-time to all documents within the data room. Another option is a variety of security options like fence view, screen-locking and encryption. These options will help prevent access to your data that is not authorized, and also reduce the chance that cyberattacks or security breaches could occur when sensitive information leaves your company’s firewall.
Granular permission settings are a second important feature. They can be applied to roles, folders and documents. For instance, you might wish to restrict access or downloading of spreadsheets to specific users and provide the option to viewers to add their own notes.
If you’re looking for more advanced features, look for a vendor that provides customizable security features. iDeals is one example. It allows you to add a customized watermark on documents and to set multiple permissions including ‘view only yourdataroom.org modes, fence views screenshot blocking, and remote wipe, as well as up to eight levels document access control. It also supports multiple languages and comes with redaction built-in.