Key Features to Look For in Your Data Room Software

Your data room is an exclusive due diligence tool that offers organisation, structure, and ease of use to simplify and speed up the process. When it comes to M&As, tenders, and capital raisings, as in other corporate events, numerous documents have to be viewed in order to make a decision. The process of combining all these documents can be a lengthy process and is prone to errors.

Thankfully, there are several crucial features that will help in making the review process much more efficient. One of the most beneficial features is a robust Q&A feature that lets you add comments, questions and answers in real-time to all documents within the data room. Another is a variety of security options including fence view, screen lock and encryption. These options can help to prevent unauthorized access, and reduce the chance that cyberattacks, or security breaches could occur when sensitive data leaves the firewall of your company.

Another crucial feature is the granular permission settings, which can be used based on the role, folder and document level. For instance, you could be able to restrict the viewing or downloading of spreadsheets to certain users only, and also offer the option for viewers to add their own view publisher site notes.

If you’re looking for more advanced features, look for a provider that has customisable 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 such as fence view, screenshot blocking remote wipe, and up to eight levels of access control. It also supports multiple languages and has redaction built-in.