Your data room software is a unique due diligence tool that provides organisation, structure and user-friendliness to a complex and lengthy process. When conducting M&As or tenders, capital raisings as well as other corporate events, numerous documents need to be reviewed in order to arrive at an informed decision. It takes a long time to go through all this information, and it can lead to errors.

There are many features that can improve the process of reviewing efficient. One of them is a robust 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 as well as screen locking and encryption. These options will help in preventing unauthorised access, and lower the risk that cyberattacks or security breaches could occur when sensitive information leaves your company’s firewall.

Granular permission settings are an additional important feature. They can be applied to folders, roles click for more info and documents. It is possible to limit the viewing or downloading of spreadsheets only to certain users and allow them to add notes.

If you require more advanced features, look for a vendor that provides customizable security features. For instance, iDeals allows you to add a custom-designed watermark to any document and set up multiple user permissions including ‘view only’ modes fencing view block, screenshot blocking remote wipe, and up to eight levels of document access control. It also has built-in redaction, and it supports a variety of languages.