Key Features to Look For in Your Data Room Software

Your data room software is unique due diligence software that offers structure, organization and user-friendliness to a complicated and protracted process. During M&A capital raising, tenders and other corporate events, there are a myriad of documents that data room Due Diligence need to be reviewed before a decision can be taken. It takes a long time to go through all the information and it is prone to errors.

There are many tools that can make reviewing more efficient. One of the most useful features is a powerful Q&A feature that lets you add questions, comments, and answers in real-time to every document in the data room. Other security features include fence view, screen locking and encryption. These options will help in preventing unauthorised access and decrease the chance that cyberattacks or breaches could occur once sensitive data leaves the firewall of your company.

Granular permission settings are an additional essential feature. They can be applied to folders, roles and documents. You might want to limit the viewing or downloading of spreadsheets to only certain users and allow them to make notes.

If you require more advanced features, look for a provider that has customisable security controls. For example, iDeals allows you to add a custom-designed watermark to all documents and configure multiple user permissions including ‘view only’ modes fencing view and screenshot blocking, remote wipe and up to eight levels of document access control. It also includes redaction and works with a variety of languages.