The software for your data room is a unique due diligence tool that helps to organize, structure and user-friendliness to a complicated and protracted process. In M&A capital raising, tenders and other corporate events, there are a myriad of documents to be reviewed before a decision is made. It can be time-consuming to go through all the information and it is susceptible to errors.

Thankfully, there are several essential features that can be used to make the process of reviewing more efficient. One of the most crucial is a virtual data room cost dependable Q&A tool that lets you add comments as well as questions and answers to all documents in the data room in real-time. Another option is a variety of security options including fence view, screen-locking, and encryption. These options can help to prevent unauthorized access, and reduce the chance that cyberattacks, or breaches could occur after sensitive data is removed from your firewall.

Granular permission settings are an additional important feature. They can be applied to folders, roles and documents. For instance, you might decide to limit viewing or downloading of spreadsheets for certain users only and also provide the option for users to add notes.

If you require more advanced features, choose a provider who offers customisable security controls. For example, iDeals allows you to add a custom-designed watermark to every document and to set 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 supports multiple languages and has redaction built-in.