Your data room is a unique due diligence tool that provides structure, organization and ease of use for a long and complicated process. When it comes to M&A, tenders, capital raising and other corporate occasions, there are numerous documents that need to be reviewed before a decision can be made. It can be time-consuming to go through all of this information, and it can be prone to errors.
Thankfully, there are several crucial features that will help to make the review process much more efficient. One of the most useful features is a powerful Q&A feature which allows you to add questions, comments, 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 options will help prevent access to your data that is not authorized, and also reduce the chance that cyberattacks or breaches could occur after sensitive information leaves your company’s firewall.
Another important feature is specific permission settings, which can be used based on the role, folder or document level. For instance, you might decide to limit viewing or downloading of spreadsheets to certain users and provide the option for viewers to make notes of their own.
If you’re looking for more advanced features, search for a vendor that provides customizable security controls. For example, iDeals allows you to add a custom watermark to all documents and configure multiple user permissions including “view only” modes fencing view screen blocking remote wipe, and up to eight levels of document access control. It also comes with built-in redaction and supports a number of languages.