Your data room is an exclusive due diligence tool that provides structure, organization and ease of use for a complex and lengthy process. When it comes to M&As, tenders, and capital raisings, as in other corporate events, a large number of documents need to be reviewed to make a decision. Compiling all the information can be time-consuming and prone to error.
Thankfully, there are several essential features that can be used to make the process of reviewing much more efficient. One of the most important is a comprehensive Q&A tool that lets you add comments as well as questions and answers to all documents within the data room in real-time. The other is a range of security options like fence view, screen-locking and encryption. These options will prevent unauthorised access and decrease the chance that cyberattacks, or breaches could occur once sensitive data leaves your company firewall.
Granular permission settings are yet another essential feature. They can be applied to yourdataroom.org roles, folders and documents. You may want to limit access to or download of spreadsheets to only certain users, and let them add notes.
If you require more advanced features, select a service that provides customisable security control. For instance, iDeals allows you to add a custom watermark to every document and to set multiple user permissions including ‘view only’ modes, fence view block, screenshot blocking remote wipe and up to eight levels of document access control. It also includes redaction and supports a number of languages.