Your data room is a distinctive due diligence tool that provides organisation, structure and ease of use for a long and complicated process. In M&As and tenders, capital raisings, as in other corporate events, numerous documents need to be reviewed in order to arrive at an informed decision. Compiling all this information is time-consuming and is prone to errors.
There are a variety of options that can make reviewing more efficient. One of the most helpful features is a powerful Q&A feature that lets you add comments, questions, and answers in real-time to all documents within a data room. Other security features include fence view, screen locking and encryption. These options will help in preventing unauthorized access, and reduce the chance that cyberattacks or breach could occur if sensitive data leaves the firewall of your company.
Another crucial feature is the flexible permission settings that can be applied based upon role, folder and document level. You may want to limit the downloading or viewing of spreadsheets only to certain users, and let them make notes.
If you need more advanced features, go with a provider who offers customisable security controls. For example, iDeals allows you to add a custom watermark on all documents https://www.yourdataroom.org/providers-features and configure multiple user permissions including “view only” modes such as fence view block, screenshot blocking, remote wipe and up to eight levels of document access control. It also supports multiple languages and has redaction built-in.