Key Features to Look For in Your Data Room Software
The software for your data room is unique due diligence software that offers structure, organization and ease of use to a lengthy and complicated process. When conducting M&As or tenders, capital raisings, as well in other corporate events, numerous documents have to be viewed in order to make a decision. It can be time-consuming to go through all this information and it is prone to errors.
There are a variety of key features that can help to make the review process much more efficient. One of the most helpful features is a comprehensive Q&A feature which allows you to add comments, questions, and answers in real-time to every document in a data room. Other security features include fence view security, screen locking and encryption. These will help in preventing unauthorised access and lower the chance of cyberattacks or breaches that might occur after sensitive files leave the firewall of your business.
Another essential feature is adjustable permission settings, which can be applied based on the role, folder and document level. For example, you may wish to restrict access or downloading of spreadsheets to a select group of users only and also provide the option to viewers to add their own notes.
If you require more advanced features, search for a service that provides customisable security controls. For instance, iDeals allows you to add a custom watermark on every document and to set multiple user permissions including “view only” modes including fence view, screenshot blocking, remote wipe and up to eight levels of access control. It also has built-in redaction and can be used in a variety of languages.
