The software for your data room is a unique due diligence tool that provides organisation, structure and user-friendliness to a complicated and protracted process. In M&A tenders, capital raising and other corporate events, there are many documents to be reviewed before a decision is made. It takes a long time to go through all of this information, and it is susceptible to mistakes.
There are many features that make the review process more efficient. One of the most useful features is a comprehensive Q&A feature which allows you to add questions, comments, and answers in real-time to all documents in the data room. Other security features include fence view screen locking, screen locking, and encryption. These will help in preventing access to your data that is not authorized and reduce the risk of cyberattacks, or breaches that could occur once sensitive data leaves your company firewall.
Another essential feature is flexible permission settings that can be set based on the role, folder, and document level. For example, you may be able to restrict the viewing or downloading of spreadsheets to a select group of users only, and also offer the option for users to add their own notes.
If you need more advanced features, select a provider that can provide you with custom security control. iDeals is one example. It allows you to add a customized watermark to documents and set multiple https://www.yourdataroom.org/providers-features permissions such as ‘view-only modes, fence views screen-blocking, remote wipe, and up to eight levels document access control. It also supports multiple languages and has redaction built-in.