Access control to the data room is a way to monitor the entry and exit from your data center. You can also deactivate permissions in real-time if you have any doubts or suspicions. Advanced security functions such as two-factor authentication, dual intervention mode and supervisor mode allow you to ensure that only authorized users can access your data. You can also assign permissions based on the role and contribution each user makes to the project in order to stop leaks of information.
Consider the user-friendly features and design of a virtual dataroom when selecting one. Look for a VDR that offers an easy and user-friendly interface which can be used by both the CFO as well as an accountant at the entry level. A great UI can also improve collaboration by allowing easy file sharing, commenting and centralized communication.
You should also consider an VDR equipped with tools that can facilitate due diligence and M&A transactions. A data room that is online and has a Q&A section, as an instance, can help you complete the financing process by providing your potential investors with a safe and easy platform to review documents. Additionally, a VDR with legal practice management can be useful in controlling the information that is shared between lawyers and clients.
If you utilize a virtual dataroom for sharing files with other parties make sure you choose one with dynamic watermarks. These add personalized identifiers and display the recipient’s IP address and email address to each file to discourage uninvited sharing and increase traceability if there is a breach. A VDR with a spreadsheet viewer that enforces security blocks from unauthorized editing and cloning.