Choosing Data Room Software

Choosing Data Room Software

Choosing Data Room Software 150 150 Michael Shvarzman

The most efficient data room software doesn’t require a lengthy learning curve. This feature is particularly important in the case of teams and companies who want to concentrate their time on achieving the intended outcome of a deal or transaction rather than learning an unfamiliar tool. Many providers offer checklists, templates and playbooks to help users to work efficiently and in a systematic manner. Some have even advanced features such as iDeals Sync to allow for seamless integration with corporate file storage systems. Advanced search filters and tags along with optical character recognition tools help users locate any document within a only a few seconds. Other common features include automatic index numbering and dynamic watermarks that appear on top of every uploaded document after viewing, downloading or printing and activity reports that detail who has accessed which documents and for how long.

The virtual room of iDeals offers numerous security features that safeguard confidential information, including two-factor authentication as well as customizable NDAs. It also provides bulk invitations to users. It also allows users to cut out text, images or specific sections of a document. It also lets users set document access restrictions by time and IP addresses.

Q&A reporting lets administrators see and print all questions and answers as well as any comments received from experts during the course of a project or deal. They can easily assign answers to other experts, and then modify the workflow. The data can also be exported to Excel for ease of use.

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