Key Features to Look For in Your Data Room Software
Your data room software is a unique due-diligence software that helps to organize, structure and a user-friendly interface to a long and complex process. When it comes to M&As, tenders, and capital raisings, as well with other corporate events a large number of documents need to be reviewed in order to make an informed decision. It can be time-consuming to go through all of this information, and it can lead to mistakes.
Thankfully, there are several important features that can help to make the process of reviewing more efficient. One of the most crucial is a comprehensive Q&A tool that allows you to add comments, questions and answers to all documents within the data room in real-time. Other security features include fence view security, screen locking and encryption. These will help to prevent unauthorized access and reduce the risk of cyberattacks, or breaches that might occur after sensitive data leaves your company firewall.
Another essential feature is granular permission settings, which can be set based on the role, folder or document level. For instance, you could wish to restrict access or downloading of spreadsheets to a select group of users only, and also offer the option to viewers to make notes of their own.
If you’re looking for more advanced features, search for a service that provides customizable security features. For example, iDeals allows you to add a custom watermark on any document and set up multiple user permissions including “view only” modes such as fence view screen blocking remote wipe, and up to eight levels of document access control. It also has built-in redaction and works with a variety of languages.