Choosing Data Room Software

09-10-2023 | Property Development

The most efficient data room software does not require a long learning curve. This feature is especially important for companies and teams with a focus on projects who want to spend their time achieving the desired result of a deal transaction, rather than acquiring the latest tool. Many providers offer checklists and templates to aid users in working efficiently and effectively. Some even offer advanced features like iDeals Sync to allow for seamless integration with corporate file storage systems. Advanced tags, search filters, and optical character recognition tools allow users to locate any document in seconds. Other features include automatic indexing, dynamic watermarks that appear on each uploaded document once it has been viewed printed or downloaded, as well as activity reports, which show who accessed what documents for how long.

The iDeals virtual room comes with several security options that protect sensitive information, including two-factor authentication and customizable NDAs. It also offers bulk invitations to users. It also allows users to cut out text or images from the document, as well as restrict access to documents based on IP addresses and time.

Q&A reporting enables administrators to look up and print all questions responses, comments and questions received from experts during the course of a deal or project. They can easily reassign answers to other experts, alter the workflow and monitor all activity. The data can also be exported to Excel for easy access.


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