Your data room is a distinctive due diligence tool that provides structure, organization and a user-friendly interface for a complex and lengthy process. When it comes to M&A, tenders, capital raising and other corporate events, there are countless documents to be reviewed before a decision can be taken. It is time-consuming to look through all this information and it is prone to errors.
There are many features that help make the review process more efficient. One of the most important is a comprehensive Q&A tool that allows you to add comments as well as questions and answers to all documents in the data room in real-time. Other security features include fence view screen locking, screen locking, and encryption. These will help in preventing unauthorised access and decrease the chance of cyberattacks or breaches that could occur once sensitive data leaves your firewall.
Granular permission settings are an additional important feature. They can be applied to folders, roles and documents. You may want to restrict the viewing or downloading of spreadsheets only to a select group of users and allow them to add notes.
If you are looking for more advanced features, select one that offers customizable security control. For instance, iDeals allows you to add a custom-designed watermark to all documents and configure a variety of user permissions including “view only” modes fencing view and screenshot blocking remote wipe and up to eight levels of access control. It also supports multiple languages and has redaction built-in.
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