The software for your data room is a unique due-diligence software that provides organisation, structure and ease of use to a long and complex process. During M&A, capital raising, tenders and other corporate events, there are a myriad of documents to be reviewed before a final decision can be made. The process of combining all the information can be time-consuming and prone to error.
There are a variety of important features that can help to make the process of reviewing much more efficient. One of the most useful 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. There is also a range of security options like fence view, screen-locking, and encryption. These will help in preventing unauthorized access and reduce the possibility of cyberattacks and breaches that might occur after sensitive files leave the firewall of your business.
Another important feature is granular permission settings, which can be applied based on the role, folder and document level. For instance, you could want to restrict viewing or downloading of spreadsheets to certain users only, and also offer the option for viewers to make notes of their own.
If you require more advanced features, search for a provider that has customisable security controls. iDeals, for example, allows you to add a customized watermark on documents and to set multiple permissions such as ‘view-only’ modes, fence views screen-blocking, remote wipe, as well as up to eight levels document access control. It https://www.yourdataroom.org/life-sciences also supports multiple languages and comes with redaction built-in.