Your data room is a unique due diligence tool that provides organisation, structure and ease of use for a long and complicated process. During M&A, tenders, capital raising and other corporate events, there are countless documents to be reviewed before a final decision is made. Making sense of all this information is a time-consuming task and is prone to errors.
There are many features that make the review process more efficient. One of the most crucial is a powerful Q&A tool that lets you add comments, questions and answers 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 lower the risk of cyberattacks, or breaches that could occur once sensitive files leave the firewall of your business.
Granular permission settings are yet another important feature. They can be applied to roles, folders and documents. For instance, you may decide to limit viewing 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 need more advanced features, you should choose a provider who offers customisable security control. For instance, iDeals allows you to add a custom-designed watermark to any document and set up multiple user permissions including “view only” modes such as fence view, screenshot blocking remote wipe and up to eight levels of document access control. It also has built-in redaction and can be used in a variety of languages.
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