Your data room is a distinctive due diligence tool that offers structure, organization, and ease of use for a long and complicated process. During M&A capital raising, tenders and other corporate events, there are countless documents to be reviewed before a final decision can be made. Compiling all these documents can be a lengthy process and prone to error.
There are numerous options that can improve the process of reviewing efficient. One of them is a comprehensive Q&A tool that lets you add comments or questions and responses to all documents within the data room in real-time. The other is a range of security options like fence view, screen-locking, and encryption. These options can help to prevent unauthorised access and decrease the risk that cyberattacks or breaches could occur after sensitive data is removed from your firewall.
Granular permission settings are another essential feature. They can be applied to folders, roles and documents. For example, you may be able to restrict the viewing or downloading of spreadsheets to a select group of users only and also provide the option for viewers to make notes of their own.
If you’re looking for more advanced features, search for a service that provides customizable security features. iDeals for instance, allows you to apply a custom watermark to documents and set multiple permissions including ‘view only modes, fence views, screenshot blocking, and remote wipe, and up to eight levels of document access control. It also comes with built-in redaction, and it supports a variety of languages.