The software for your data room is a unique due-diligence software that helps to organize, structure and ease of use to a complicated and protracted process. When it comes to M&A capital raising, tenders and other corporate events, there are many documents that need to be reviewed before a final decision is made. Combing through all of this information is time-consuming and is prone to errors.
There are several options that can make the review process more efficient. One of the most helpful features is a robust Q&A feature which allows you to add comments, questions and answers in real-time to all documents within a data room. Another option is a variety of security options, including fence view, screen lock and encryption. These will help in preventing unauthorized access and reduce the risk of cyberattacks or security breaches that may occur after sensitive data leaves the firewall of your business.
Another feature that is essential is the flexible permission settings that can be applied based upon role, folder and document level. For instance, you may wish to restrict access or downloading of spreadsheets for certain users and provide the option for viewers to add their own notes.
If you require more advanced features, look for a service that provides customizable security controls. For example, iDeals allows you to apply a custom watermark to any document and set up multiple user permissions including “view only” modes including fence view screen 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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