The software for your data room is a unique due diligence software that gives structure, organisation and user-friendliness to a complex and lengthy process. During M&A, tenders, capital raising and other corporate events, there are a myriad of documents to be reviewed before a decision can be taken. The process of combining all these documents can be a lengthy process and prone to error.
There are several tools that can make reviewing 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, screen locking and encryption. These options can help to prevent unauthorized access, and reduce the risk 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 decide to limit viewing or downloading of spreadsheets to a select group of users only and also provide the option for users to make notes of their own.
If you are looking for more advanced features, you should choose a provider that can provide you with custom security controls. iDeals, for example, allows users to add a custom watermark to documents and set multiple permissions including ‘view only’ modes, fence views, screen-blocking, remote wipe, and up to eight levels of document access control. It also has built-in redaction and works with a variety of languages.