Key Features to Look For in Your Data Room Software
The software for your data room is unique due diligence software that provides organisation, structure and a user-friendly interface to a long and complex process. During M&A tenders, capital raising and other corporate occasions, there are numerous documents that must be reviewed before a final decision can be taken. It is time-consuming to go through all of this information, and it can be prone to mistakes.
There are plenty of key features that can help in making the review process more efficient. One of the most important is a robust Q&A tool that lets you add comments or questions and responses to all documents within the data room in real-time. Other security features include fence view screen locking, screen locking, and encryption. These can help prevent unauthorised access and lower the possibility of cyberattacks and breach that can occur when sensitive files leave the firewall of your company.
Granular permission settings are yet another essential feature. They can be applied to folders, roles and documents. You may want to restrict the viewing or downloading of spreadsheets to only certain users and allow them to make notes.
If you’re looking for more advanced features, you should choose one that offers customizable security control. iDeals, for example, allows you to add a customized watermark on documents and to set multiple permissions that include ‘view-only modes, fence views screenshot blocking, and remote wipe, as well as up to eight levels of document access control. It also supports multiple languages and comes with redaction built-in.