Your data room is a distinctive due diligence tool that provides organisation, structure and ease of use for a long and complicated process. When it comes to M&A capital raising, tenders and other corporate events, there are a myriad of documents that need to be reviewed before a final decision can be taken. The process of combining all the information can be time-consuming and is prone to errors.
There are plenty of essential features that can be used in making the review process more efficient. One of the most beneficial features is a powerful Q&A feature that allows you to add questions, comments, and answers in real-time to all documents in the data room. Another option is a variety of security options like fence view, screen-locking and encryption. These options will help in preventing unauthorised access and decrease the risk that cyberattacks or breach could occur if sensitive data is removed from your firewall.
Another essential feature is flexible permission settings that can be used based on the role, folder, and document level. It is possible to limit access to or download of spreadsheets to specific users and allow them to note notes.
If you need more advanced features, look for a provider that has customizable security controls. iDeals is one example. It allows you to create a custom watermark to documents and set multiple permissions that include ‘view-only’ modes, fence views, screen-blocking, remote wipe, as well as up to eight levels of document access control. It also comes with built-in redaction, and it supports a variety of languages.
