Key Features to Look For in Your Data Room Software
Your data room is a unique due diligence tool that offers structure, organization and ease of use for a lengthy and complex process. During M&A, capital raising, tenders and other corporate occasions, there are numerous documents to be reviewed before a decision can be taken. It can be time-consuming to go through all this information and it can be prone to mistakes.
Thankfully, there are several important features that can help in making the review process more efficient. One of the most beneficial features is a robust Q&A feature which allows you to add comments, questions, and answers in real-time to all documents within a data room. The other is a range of security options like fence view, screen-locking and encryption. These options can help to prevent unauthorized access, and reduce the possibility that cyberattacks and breaches could occur after sensitive data is removed from your firewall.
Granular permission settings are a second essential feature. They can be applied to roles, folders and documents. You may want to limit the viewing or downloading of spreadsheets only to certain users, and let them note notes.
If you’re looking for more advanced features, search for a service that provides customisable security controls. iDeals is one example. It allows you to apply a custom watermark on documents and to set multiple permissions including ‘view only modes, fence views screenshot blocking, and remote wipe, as well as up to eight levels document access control. It also includes redaction and supports a number of languages.
