Your data room software is a unique due diligence tool that offers structure, organization and ease of use to a lengthy and complicated process. When it comes to M&As, tenders, and capital raisings, as well and other corporate events numerous documents must be reviewed in order to arrive at a decision. Combing through all of this information is a time-consuming task and is prone to errors.
There are several features that help make the review see this process more efficient. One of the most important is a powerful Q&A tool that lets you add comments or questions and responses to all documents within the data room in real-time. Other security features include fence view security, screen locking and encryption. These options can help to prevent unauthorised access, and lower the risk that cyberattacks or breaches could occur after sensitive data leaves your company firewall.
Granular permission settings are an additional essential feature. They can be applied to folders, roles and documents. You might want to limit access to or download of spreadsheets only to certain users and allow them to make notes.
If you’re looking for more advanced features, look for a vendor that provides customizable security features. iDeals, for example, allows you to apply a custom watermark to documents and set multiple permissions such as ‘view-only modes, fence views screen-blocking, remote wipe, as well as up to eight levels document access control. It also supports multiple languages and comes with redaction built-in.
