Your data room is an exclusive due diligence tool that provides structure, organization and a user-friendly interface for a long and complicated process. When conducting M&As or tenders, capital raising, as well as other corporate events, numerous documents need to be reviewed in order to arrive at a decision. It can be time-consuming to go through all of this information, and it can be prone to mistakes.
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There are plenty of essential features that can be used to make the review process more efficient. One of the most important is a robust Q&A tool that lets you add comments or questions to all documents within the data room in real-time. Other security features include fence view, screen locking and encryption. These can help prevent unauthorized access and reduce the risk of cyberattacks, or security breaches that may occur after sensitive data leaves the firewall of your company.
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Granular permission settings are an additional essential feature. They can be applied to roles, folders and documents. You might want to limit the downloading or viewing of spreadsheets only to certain users and allow them to note notes.
If you need more advanced features, look for a provider that has customized security controls. For example, iDeals allows you to add a custom watermark on all documents and configure a variety of user permissions including “view only” modes fencing view block, screenshot blocking remote wipe, and up to eight levels of document access https://www.yourdataroom.org/virtual-data-room-pricing control. It also has built-in redaction and supports a number of languages.