Key Features to Look For in Your Data Room Software

Your data room is a unique due diligence tool that provides organisation, structure and a user-friendly interface for a long and complicated process. When it comes to M&A capital raising, tenders and other corporate occasions, there are numerous documents that must be reviewed before a final decision can be made. Combing through all of this information is time-consuming and prone to error.

There are many tools that can improve the process of reviewing efficient. One of them is a powerful Q&A tool that allows you to add comments or questions and responses to all documents within the data room in real-time. The other is a range of security options including fence view, screen locking and encryption. These will help in preventing access to your data that is not authorized and reduce the chance of cyberattacks or breaches that might occur after sensitive files leave the firewall of your company.

Another essential feature is flexible permission settings that can be used based on the role, folder, and document level. You may want to restrict the viewing or downloading of spreadsheets only to certain users, and let them add notes.

If you require more advanced features, you should choose one that offers customizable security control. iDeals, for example, allows users to add a custom watermark to documents and set multiple permissions, including ‘view-only’ modes, fence views, screen-blocking, remote wipe, as well as up to eight levels of document access control. It also comes with www.yourdataroom.org/virtual-data-room-pricing/ built-in redaction, and it supports a variety of languages.