The software for your data room is unique due diligence software that helps to organize, structure and ease of use to a complex and lengthy process. When it comes to M&A tenders, capital raising and other corporate events, there are many documents that need to be reviewed before a decision can be taken. It can be time-consuming to go through all this information and it can be prone to mistakes.
Thankfully, there are several essential features that can be used to make the review process much more efficient. One of the most important is a powerful Q&A tool that allows you to add comments or questions to all documents in the data room in real-time. Another is a variety of security options including fence view, screen locking and encryption. These can help prevent unauthorised access and decrease the risk of cyberattacks, or security breaches that may occur after sensitive data leaves the firewall of your business.
Granular permission settings are a second important feature. They can be applied to folders, roles and documents. For instance, you may want to restrict viewing or downloading of spreadsheets to certain users only, and also offer the option for viewers to make notes of their own.
If you need more advanced features, search for a service that provides customizable security features. For instance, iDeals allows you to add a custom watermark to all documents and configure a variety of user permissions including „view only” modes including fence view and screenshot virtual data room cost blocking, remote wipe and up to eight levels of document access control. It also supports multiple languages and has redaction built-in.