Your data room is an exclusive due diligence tool that offers organisation, structure, and ease of use to simplify and speed up the process. During M&A capital raising, tenders and other corporate events, there are a myriad of documents that need to be reviewed before a decision is made. Combing through all of these documents can be a lengthy process and is prone to errors.
There are numerous features that can make the review process more efficient. One of the most crucial is a comprehensive Q&A tool that allows you to add comments or questions and responses 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 options will help in preventing access to your data that is not authorized, and also reduce the chance that cyberattacks, or breach could occur if sensitive information leaves your company’s firewall.
Granular permission settings are a second important feature. They can be applied to roles, folders and documents. It is possible to limit the download or viewing of spreadsheets only to a select group of users, and let them make notes.
If you are looking for more advanced features, choose a provider that can provide you with custom security controls. iDeals, for example, allows you to add a customized watermark to documents, and also configure multiple permissions including ‘view only modes, fence views screenshot blocking, and remote wipe, and up to eight levels document access control. It also supports multiple languages and has redaction built-in.