Your data room is a unique due diligence tool that provides structure, organization, and ease of use for a long and complicated process. In M&As and tenders, capital raisings as well and other corporate events many documents have to be viewed to help make a decision. Making sense of all these documents can be a lengthy process and prone to error.
Fortunately, there are many crucial features that will help in making the review process much more efficient. One of the most effective features is a powerful Q&A feature that lets you add comments, questions and answers in real-time to all documents in the data room. Other security features include fence view as well as screen locking and encryption. These options will help prevent unauthorized access, and reduce the chance that cyberattacks, or breaches could occur after sensitive data is removed from your firewall.
Another important feature is specific permission settings, which can be used based on the role, folder, and document level. You might want to limit the download or viewing of spreadsheets only to a select group of users and allow them to make notes.
If you require more advanced features, go with a provider that can provide you with custom security controls. For instance, iDeals allows you to apply a custom watermark to any document and set up multiple user permissions including “view only” modes, fence view, screenshot blocking, remote wipe and up to eight levels of document access control. It also includes redaction, and it supports a variety of languages.