Your data room software is a unique due diligence software that gives structure, organisation and user-friendliness to a lengthy and complicated process. During M&A capital raising, tenders and other corporate events, there are many documents that must be reviewed before a final decision is made. Making sense of all this information is time-consuming and prone to error.
There are a variety of essential features that can be used to make the review process more efficient. One of them is a powerful Q&A tool that allows you to add comments or questions to all documents within the data room in real-time. Other security features include fence view security, screen locking and encryption. These options will help prevent unauthorized access, and reduce the risk that cyberattacks or breaches could occur once sensitive data leaves your company firewall.
Granular permission settings are another important feature. They can be applied to folders, roles and documents. You may want to restrict the download or viewing of spreadsheets only to a select group of users, and let them add notes.
If you’re looking for more advanced features, go with one that offers customizable security control. iDeals is one example. It allows you to add a customized watermark to documents, and also configure multiple permissions including ‘view only modes, fence views, screen-blocking, remote wipe, as well as up to eight levels document access control. It also has built-in redaction and supports a number of languages.
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