Your data room is a unique due diligence tool that offers organisation, structure and a user-friendly interface for a complex and lengthy process. When it comes to M&A tenders, capital raising and other corporate occasions, there are numerous documents to be reviewed before a final decision can be taken. Combing through all of this information is a time-consuming task and is prone to errors.
There are a variety of essential features that can be used to make the process of reviewing more efficient. One of the most crucial is a robust Q&A tool that allows you to add comments or questions to all documents within the data room in real-time. Other security features include fence view screen locking, screen locking, and encryption. These can be used to block unauthorised access and decrease the chance of cyberattacks or security breaches that may occur after sensitive files leave the firewall of your company.
Another essential feature is flexible permission settings that can be set based on the role, folder or document level. For instance, you may decide to limit viewing or downloading of spreadsheets to certain users only and also provide the option to viewers to add notes of their own.
If you’re looking for more advanced features, search for a vendor that provides customisable security controls. iDeals is one example. It allows you to add a customized watermark to documents, and also configure multiple permissions, including ‘view-only’ modes, fence views, screen-blocking, remote wipe, as well as up to eight levels document access control. It also has built-in redaction and can be used in a variety of languages.
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