Your data room is a unique due diligence tool that offers structure, organization and a user-friendly interface for a complex and lengthy process. In M&As and tenders, capital raisings, as well and other corporate events a large number of documents need to be reviewed in order to make a decision. It takes a long time to go through all this information and it can be prone to mistakes.
Fortunately, there are many key features that can help to make the process of reviewing more efficient. One of the most crucial is a dependable Q&A tool that allows you to add comments or questions to all documents within the data room in real-time. Another is a variety of security options such as fence view, screen locking and encryption. These can help prevent unauthorized access and reduce the risk of cyberattacks or breach that can occur when sensitive files leave the firewall of your business.
Granular permission settings are another essential feature. They can be applied to roles, folders and documents. For instance, you may be able to restrict the viewing or downloading of spreadsheets to certain users only, and also offer the option for users to add notes.
If you require more advanced features, you should choose a provider who offers customisable security control. iDeals is one example. It allows users to add a custom watermark to documents and configure multiple permissions, including ‘view-only’ modes, fence views, screen-blocking, remote wipe, in addition to up to eight board portal providers levels document access control. It also includes redaction and works with a variety of languages.