The software for your data room is a unique due diligence tool that helps to organize, structure and a user-friendly interface to a complicated and protracted process. In M&A, tenders, capital raising and other corporate events, there are many documents that must be reviewed before a final decision is made. It takes a long time to go through all this information and it can lead to mistakes.
Thankfully, there are several key features that can help to make the review process more efficient. One of the most important is a dependable 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 as well as screen locking and encryption. These options will help in preventing unauthorized access, and reduce the directory possibility that cyberattacks and security breaches could occur when sensitive data leaves your company firewall.
Granular permission settings are a second important feature. They can be applied to roles, folders and documents. You may want to restrict the downloading or viewing of spreadsheets only to certain users and allow them to make notes.
If you are looking for more advanced features, choose a provider who offers customisable security control. iDeals is one example. It allows you to apply a custom watermark to documents and set multiple permissions that include ‘view-only modes, fence views, screenshot blocking, and remote wipe, in addition to up to eight levels document access control. It also includes redaction and can be used in a variety of languages.