Key Features to Look For in Your Data Room Software

Your data room is a unique due diligence tool that offers structure, organization and a user-friendly interface for see this a complex and lengthy process. During M&A, tenders, capital raising and other corporate occasions, there are numerous documents to be reviewed before a decision can be made. It takes a long time to go through all this information and it can be prone to errors.

There are many features that can make the review process more efficient. One of the most helpful features is a robust Q&A feature that lets you add comments, questions and answers in real-time for all documents in the data room. Another is a variety of security options including fence view, screen lock and encryption. These will help to prevent unauthorised access and lower the risk of cyberattacks, or breaches that might occur after sensitive data leaves your firewall.

Granular permission settings are a second essential feature. They can be applied to folders, roles and documents. You may want to restrict the download or viewing of spreadsheets to specific users, and let them note notes.

If you require more advanced features, you should choose a provider who offers customisable security control. iDeals, for example, allows users to add a custom watermark to documents and configure multiple permissions such as ‘view-only’ modes, fence views, screenshot blocking, and remote wipe, in addition to up to eight levels of document access control. It also supports multiple languages and comes with redaction built-in.