Your data room is an exclusive due diligence tool that provides structure, organization and a user-friendly interface for a lengthy and complex process. During M&As, tenders and capital raisings, as in other corporate events, a large number of documents need to be reviewed in order to make a decision. It is time-consuming to look through all this information and it is prone to errors.
There are a variety of essential features that can be used to make the process of reviewing more efficient. One of the most crucial is a robust Q&A tool that allows you to add comments as well as questions and answers to all documents in the data room in real-time. Another option is a virtual data room cost variety of security options, including fence view, screen locking and encryption. These can help prevent access to your data that is not authorized and reduce the risk of cyberattacks or breaches that could occur once sensitive files leave your firewall.
Another crucial feature is the specific permission settings, which can be used based on the role, folder, and document level. For instance, you might want to restrict viewing or downloading of spreadsheets for certain users, but also give the option for viewers to add their own notes.
If you require more advanced features, you should choose one that offers customizable security control. For example, iDeals allows you to apply a custom watermark to all documents and configure a variety of user permissions including ‘view only’ modes including fence view block, screenshot blocking remote wipe, and up to eight levels of document access control. It also supports multiple languages and comes with redaction built-in.
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