Your data room is an exclusive due diligence tool that provides organisation, structure and ease of use for a lengthy and complex process. During M&A capital raising, tenders and other corporate events, there are countless documents that must be reviewed before a decision can be made. It can be time-consuming to go through all of this information, and it is susceptible to errors.
There are plenty of crucial features that will help in making the review process more efficient. One of them is a dependable Q&A tool that allows you to add comments or questions and responses to all documents in the data room in real-time. There is also a range of security options like fence view, screen locking and encryption. These options can help to prevent unauthorised access, and lower the risk that cyberattacks or breaches could occur once sensitive data leaves the firewall of your company.
Another feature that is essential is the adjustable permission settings, which can be applied based on the role, folder or document level. For instance, you might be able to restrict the viewing or downloading of spreadsheets for certain users and provide the option for users to add notes of their own.
If you require more advanced features, look for a service that provides customizable 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 screen-blocking, remote wipe, and up to eight levels of document access control. It also supports multiple languages and comes with redaction built-in.