Your data room is a distinctive due diligence tool that provides structure, organization, and ease of use for a long and complicated process. When it comes to M&A, capital raising, tenders and other corporate events, there are many documents that must be reviewed before a final decision is made. It is time-consuming to go through all this information and it can lead to mistakes.

Thankfully, there are several crucial features that will help in making the review process much more efficient. One of the most beneficial features is a powerful Q&A feature that allows you to add questions, comments, and answers in real-time for all documents in the data room. The other is a range of security options, including fence view, screen-locking, and encryption. These will help to prevent unauthorized access and reduce the chance of cyberattacks or breach that can occur when sensitive data leaves your firewall.

Another important feature is specific permission settings, which can be applied based upon role, folder and document level. You may want www.yourdataroom.org/fundraising/ to limit access to or download of spreadsheets only to certain users and allow them to make notes.

If you’re looking for more advanced features, you should choose a provider who offers customisable security controls. iDeals, for example, allows you to add a customized watermark to documents and set multiple permissions that include ‘view-only’ modes, fence views screen-blocking, remote wipe, and up to eight levels of document access control. It also supports multiple languages and comes with redaction built-in.