Your data room is an exclusive due diligence tool that offers structure, organization and a user-friendly interface to simplify and speed up the process. When it comes to M&A, tenders, capital raising and other corporate events, there are a myriad of documents that must be reviewed before a decision is made. It is time-consuming to look through all this information and it is susceptible to mistakes.
There are a variety of essential features that can be used in making the review process much more efficient. One of the most crucial is a powerful Q&A tool that allows you to add comments, questions and answers to all documents within the data room in real-time. There is also a range of security options including fence view, screen-locking and encryption. These can help prevent unauthorized access and reduce the risk of cyberattacks, or security breaches that may occur after sensitive files leave the firewall of your company.
Granular permission settings are a second essential feature. They can be applied to folders, roles and documents. For example, you may wish to restrict access or downloading of spreadsheets to a select group of users only, and also offer the option for viewers to https://www.yourdataroom.org/ma add notes.
If you are looking for more advanced features, go with a provider that can provide you with custom security controls. iDeals for instance, allows you to add a customized watermark on documents and to set multiple permissions that include ‘view-only’ modes, fence views, screenshot blocking, and remote wipe, and up to eight levels document access control. It also supports multiple languages and comes with redaction built-in.