Your data room software is unique due diligence software that gives structure, organisation and user-friendliness to a complex and lengthy process. When it comes to M&A, capital raising, tenders and other corporate events, there are countless documents that must be reviewed before a decision can be made. Combing through all of this information is a time-consuming task and is prone to errors.
There are a variety of tools that can help make the review process more efficient. One of the most crucial is a dependable Q&A tool that lets you add comments or questions to all documents in the data room in real-time. There is also a range of security options like fence view, screen-locking and encryption. These will help in preventing access to your data that is not authorized and reduce the risk of cyberattacks, or breaches that could occur once sensitive files leave your company firewall.
Another feature that is essential is the specific permission settings, which can be used based on the role, folder or document level. For example, you may be able to restrict the viewing or downloading of spreadsheets to specific users and provide the option to viewers to add their own notes.
If you require more advanced features, look for a provider that offers customisable 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 including fence view screen blocking remote wipe and up to eight levels of access control. It also comes with built-in redaction, and it supports a variety of languages.