The software for your data room is a unique due-diligence software that gives structure, organisation and ease of use to a complex and lengthy process. During M&A capital raising, tenders and other corporate events, there are a myriad of documents that must be reviewed before a final decision can be taken. It is time-consuming to look through all of this information, and data room real estate it can lead to mistakes.
Fortunately, there are many essential features that can be used to make the process of reviewing much more efficient. One of the most effective features is a powerful Q&A feature that lets you add comments, questions, and answers in real-time for all documents in a data room. Other security features include fence view security, screen locking and encryption. These can help prevent unauthorised access and decrease the risk of cyberattacks, or breach that can occur when sensitive data leaves the firewall of your company.
Granular permission settings are a second essential feature. They can be applied to roles, folders and documents. You may want to limit the download or viewing of spreadsheets to only certain users, and let them make notes.
If you require more advanced features, search for a vendor that provides customizable security features. For example, 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 access control. It also includes redaction and can be used in a variety of languages.
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