Your data room software is a unique due-diligence software that provides organisation, structure and a user-friendly interface to a complex and lengthy process. During M&A tenders, capital raising and other corporate occasions, there are numerous documents to be reviewed before a decision can be made. It is time-consuming to look through all the information and it is prone to errors.
Fortunately, there are many key features that can help to make the process of reviewing much more efficient. One of the most important is a robust Q&A tool that lets you add comments, questions and answers to all documents in 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 unauthorised access, and lower the possibility that cyberattacks and breaches could occur once sensitive data check it out leaves your company firewall.
Granular permission settings are another essential feature. They can be applied to folders, roles and documents. For instance, you may want to restrict viewing or downloading of spreadsheets for certain users and provide the option for viewers to make notes of their own.
If you need more advanced features, look for a vendor that provides customisable security controls. For example, iDeals allows you to add a custom watermark on all documents and configure multiple user permissions including 'view only’ modes including fence view and screenshot blocking remote wipe and up to eight levels of document access control. It also supports multiple languages and comes with redaction built-in.