Your data room is a distinctive due diligence tool that offers organisation, structure, and ease of use for a long and complicated process. During M&A, capital raising, tenders and other corporate occasions, there are numerous documents that must be reviewed before a decision is made. Combing through all of this information is time-consuming and is prone to errors.
There are several features that can make reviewing more efficient. One of the most helpful features is a robust Q&A feature that lets you add comments, questions, and answers in real-time for all documents in the data room. Other security features include fence view security, screen locking and encryption. These can help prevent unauthorised access and decrease the possibility of cyberattacks and breach that can occur when sensitive data leaves your company firewall.
Another crucial feature is the adjustable permission settings, which can be set based on the role, folder or document level. For instance, you could wish to restrict access or downloading of spreadsheets to specific users only and also provide the option to viewers to add notes of their own.
If you need more advanced features, search for a service that provides customisable security controls. For instance, iDeals allows you to add a custom watermark on all documents and configure a variety of user permissions including “view only” modes including fence view screen blocking, remote wipe and up to eight levels of access control. It also supports multiple languages and has redaction built-in.