The software for your data room is a unique due diligence tool that gives structure, organisation and user-friendliness to a complex and lengthy process. In M&A, tenders, capital raising and other corporate events, there are countless documents that need to be reviewed before a decision can be taken. It is time-consuming to look through all of this information, and it is prone to mistakes.
There are plenty of essential features that can be used in making the review process much more efficient. One of the most effective features is a robust Q&A feature that lets you add comments, questions and answers in real-time to every document in a data room. Other security features include fence view screen locking, screen locking, and encryption. These can be used to block access to your data that is not authorized and reduce the risk of cyberattacks, or breach that can occur when sensitive data leaves your company firewall.
Granular permission settings are another important feature. They can be applied to https://www.yourdataroom.org/providers-features folders, roles and documents. It is possible to limit access to or download of spreadsheets to specific users, and let them make notes.
If you’re looking for more advanced features, search for a provider that has customizable security controls. iDeals, for example, allows you to create a custom watermark to documents and configure 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 supports multiple languages and has redaction built-in.