The software for your data room is a unique due diligence software that offers structure, organization and user-friendliness to a complex and lengthy process. When it comes to M&As, tenders, and capital raising, as well and other corporate events a large number of documents must be reviewed to help make a decision. Compiling all this information is a time-consuming task and is prone to errors.
There are many options that can help make the review process more efficient. One of the most effective features is a robust Q&A feature which allows you to add comments, questions, and answers in real-time to all documents in a data room. Other security features include fence view as well as screen locking and encryption. These will help in preventing unauthorized access and reduce the possibility of cyberattacks and security breaches that may occur after sensitive data leaves the firewall of your business.
Granular permission settings are another important feature. They can be applied to folders, roles and documents. For example, you may want to restrict viewing or downloading of spreadsheets for certain users only and also provide the option to viewers to add notes of their own.
If you require more advanced features, select one that offers customizable security controls. iDeals is one example. It allows you to create a custom watermark on documents and to set multiple permissions such as ‘view-only modes, fence views, screenshot blocking, and remote wipe, and up to eight levels of document access control. It also supports multiple languages and has redaction built-in.
