Key Features to Look For in Your Data Room Software

https://www.yourdataroom.org/due-diligence

Your data room software is unique due diligence software that provides organisation, structure and user-friendliness to a long and complex process. During M&A, tenders, capital raising and other corporate events, there are countless documents that must be reviewed before a final decision can be made. It is time-consuming to go through all this information and it can lead to errors.

There are a variety of features that can make reviewing more efficient. One of the most beneficial features is a comprehensive Q&A feature that lets you add questions, comments, and answers in real-time to all documents within a data room. There is also a range of security options like fence view, screen-locking and encryption. These options can help to prevent unauthorised access, and lower the chance that cyberattacks, or breaches could occur after sensitive data leaves your company firewall.

Granular permission settings are yet another essential feature. They can be applied to folders, roles and documents. For instance, you could decide to limit viewing or downloading of spreadsheets for certain users only, and also offer the option for viewers to add notes of their own.

If you require more advanced features, look for a vendor that provides customized security controls. For example, iDeals allows you to add a custom watermark on all documents and configure multiple user permissions including "view only" modes, fence view, screenshot blocking remote wipe, and up to eight levels of document access control. It also supports multiple languages and comes with redaction built-in.