Your data room is a distinctive due diligence tool that provides structure, organization and ease of use for a complex and lengthy process. When conducting M&As or tenders, capital raisings, as as other corporate events, a large number of documents must be reviewed to help make a decision. Making sense of all these documents can be a lengthy process and is prone to errors.
There are many tools that can make reviewing more efficient. One of them is a comprehensive Q&A tool that lets you add comments or questions and responses to all documents in the data room in real-time. Other security features include fence view, screen locking and encryption. These will help in preventing unauthorized access and reduce the chance of cyberattacks or breach that can occur when sensitive data leaves the firewall of https://www.yourdataroom.org/due-diligence your business.
Granular permission settings are a second essential feature. They can be applied to roles, folders and documents. You may want to limit the downloading or viewing of spreadsheets only to certain users, and let them 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 any document and set up multiple user permissions including ‘view only’ modes, fence view block, screenshot blocking, remote wipe and up to eight levels of document access control. It also supports multiple languages and has redaction built-in.