The best software for data rooms is simple to use and doesn’t require a long learning curve. This is crucial for teams or companies that want to focus their time on achieving the desired outcome of a deal or transaction instead of learning about a new tool. Many vendors offer templates, checklists and playbooks that help users work methodically and efficiently. Some have even 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 file within minutes. Other features include automatic indexing, dynamic watermarks which appear on each uploaded document when viewed, downloaded or printed, and activity reports that show who accessed the documents for how long.
The virtual data room iDeals provides various security measures that protect confidential information. This includes two-factor authentication, customizable NDA and bulk user invitation options. It also lets users cut out text or images from a document, and restrict access to a document based on IP addresses and the time.
Q&A reporting allows administrators to look up and print all questions responses, comments and questions received by experts in the course of a deal or project. They can easily assign answers to experts from other experts, adjust the workflow and track all activity. The data can also be exported to Excel for convenience.