Your data room software is a unique due diligence tool that offers structure, organization and a user-friendly interface to a lengthy and complicated process. When it comes to M&A, capital raising, tenders and other corporate events, there are many documents that must be reviewed before a final decision can be taken. It takes a long time to go through all this information and it can lead to errors.
There are numerous options that can make the review process more efficient. One of the most beneficial features is a powerful Q&A feature that lets you add comments, questions and answers in real-time to all documents within the data room. Other security features include fence view screen locking, screen locking, and encryption. These can be used to block unauthorised access and lower the risk of cyberattacks or breach that can occur when sensitive files leave your firewall.
Another essential feature is granular permission settings, which can be set based on role, folder and document level. You may want to limit the viewing or downloading of spreadsheets only to certain users, and let them add notes.
If you need more advanced features, search for a service that provides customized security controls. For example, iDeals allows you to add a custom-designed watermark to any document and set up multiple user permissions including “view only” modes fencing view block, screenshot blocking remote wipe, and up to eight levels of document access control. It also includes redaction and can be used in a variety of languages.