Key Features to Look For in Your Data Room Software

Your data room software is a unique due-diligence software that helps to organize, structure and a user-friendly interface to a long and complex process. In M&As and tenders, capital raisings, as as other corporate events, many documents have to be viewed in order to make an informed decision. It is time-consuming to go through all of this information, and it can be prone to errors.

There are plenty of data room M&A deals key features that can help in making the review process much more efficient. One of them is a powerful Q&A tool that allows you to add comments or questions and responses to all documents in the data room in real-time. Another is a variety of security options such as fence view, screen-locking and encryption. These options can help to prevent unauthorised access and decrease the possibility that cyberattacks and breach could occur if sensitive information leaves your company’s firewall.

Another important feature is flexible permission settings that can be applied based upon role, folder and document level. For instance, you may decide to limit viewing or downloading of spreadsheets to specific users only and also provide the option to viewers to add their own notes.

If you need more advanced features, look for a vendor that provides customizable security features. iDeals for instance, allows you to apply a custom watermark to documents and set multiple permissions, including ‘view-only modes, fence views, screen-blocking, remote wipe, as well as up to eight levels document access control. It also includes redaction and works with a variety of languages.