Your data room is a distinctive due diligence tool that offers organisation, structure and ease of use for a long and complicated 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 is made. Compiling all this information is time-consuming and is prone to errors.
There are numerous tools that can help make the review process more efficient. One of the most important is a comprehensive Q&A tool that lets you add comments or questions to all documents in the data room in real-time. Other security features include fence view as well as screen locking and encryption. These can be used to block unauthorized access and reduce the chance of cyberattacks or security breaches that may occur after sensitive files leave your company firewall.
Another essential feature is flexible permission settings that can be used based on the role, folder and document level. It is possible to limit access to or download of spreadsheets to specific users, and let them add notes.
If you need more advanced features, you should choose a provider that can provide you with custom security controls. For instance, iDeals allows you to add a custom watermark on all documents and configure multiple user permissions including ‘view only’ modes fencing view, screenshot blocking remote wipe, and up to eight levels of access control. It also supports multiple languages and comes with redaction built-in.
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