The software for your data room is unique due diligence software that provides organisation, structure and a user-friendly interface to a lengthy and complicated process. In M&A capital raising, tenders and other corporate events, there are many documents to be reviewed before a final decision can be made. It is time-consuming to look through all this information and it is susceptible to errors.
There are a variety of crucial features that will help to make the review process more efficient. One of them is a comprehensive Q&A tool that allows you to add comments as well as questions and answers to all documents within the data room in real-time. Another is a variety of security options, including fence view, screen locking and encryption. These will help in preventing unauthorised access and decrease the risk of cyberattacks or breach that can occur when sensitive files leave the firewall of your company.
Another important feature is granular permission settings, which can be set based on the role, folder and document level. For instance, you could wish to restrict access or downloading of spreadsheets to certain users only, and also offer the option for users to add their own notes.
If you're looking for more advanced features, look for a provider that offers customizable security controls. For example, iDeals allows you to add a custom-designed watermark to every document and to set multiple user permissions including "view only" modes including fence view and screenshot blocking remote wipe and up to eight levels of access control. It also supports multiple languages and has redaction built-in.