The software for your data room is a check it out unique due diligence tool that gives structure, organisation and user-friendliness to a complicated and protracted process. When it comes to M&A, capital raising, tenders and other corporate events, there are many documents that need to be reviewed before a final decision can be taken. Making sense of all this information is a time-consuming task and is prone to errors.
There are a variety of features that make the review process more efficient. One of the most crucial is a comprehensive Q&A tool that lets you add comments as well as questions and answers to all documents within the data room in real-time. Other security features include fence view as well as screen locking and encryption. These can be used to block unauthorised access and decrease the chance of cyberattacks or breaches that could occur once sensitive files leave the firewall of your business.
Granular permission settings are a second important feature. They can be applied to roles, folders and documents. For instance, you might be able to restrict the viewing or downloading of spreadsheets to certain users only and also provide the option for viewers to add notes of their own.
If you require more advanced features, choose a provider that can provide you with custom security control. For example, iDeals allows you to add a custom-designed watermark to all documents and configure multiple user permissions including “view only” modes such as fence view, screenshot blocking remote wipe, and up to eight levels of document access control. It also supports multiple languages and comes with redaction built-in.
