Your data room software is a unique due diligence tool that gives structure, organisation and ease of use to a complicated and protracted process. In M&As and tenders, capital raisings as well as other corporate events, a large number of documents have to be viewed in order to make an informed decision. Compiling all the information can be time-consuming and is prone to errors.
Fortunately, there are many essential features that can be used to make the process of reviewing more efficient. One of the most helpful features is a comprehensive Q&A feature that lets you add questions, comments, and answers in real-time to all documents in a data room. Other security features include fence view, screen locking and encryption. These can help prevent unauthorized access and reduce the chance of cyberattacks or breach that can occur when sensitive data leaves your firewall.
Granular permission settings are a second important feature. They can be applied to roles, folders and documents. For instance, you could be able to restrict the viewing or downloading of spreadsheets to specific users only, and also offer the option for users to add their own notes.
If you require more advanced features, search for a vendor that provides customisable security controls. iDeals for instance, allows you to directory create a custom watermark to documents and configure multiple permissions, including ‘view-only’ modes, fence views, screenshot blocking, and remote wipe, in addition to up to eight levels document access control. It also supports multiple languages and has redaction built-in.
Ankita Dang
Ankita is a well experienced badminton player and has won many championships. She intends to build a bright career in the media industry as well. She is a sports freak who loves to cover the latest news on Sports and Indoor Games.
