Access control for data rooms allows the monitoring of exit and entry from your data center. You can also revoke permissions in real-time if you have any doubts or suspicions. Advanced security features such as two-factor authentication, dual intervention mode and supervisor mode allow you to ensure that only authorized individuals can access your assets. In addition, you can set permissions by determining each user’s role and contribution towards the project in order to prevent information leaks.
Be aware of the user-friendly features and design of a virtual dataroom when selecting one. Choose an VDR that has a simple and comprehensive UI that can be used by both the CFO and an entry-level accountant. A well-designed UI can also facilitate collaboration by allowing simple sharing of files, comments and central communication.
It is also recommended to look for a VDR with built-in tools that help aid due diligence and M&A transactions. An online data room with an area for Q&A, for example, can help complete the financing process by providing your potential investors with a safe and convenient platform to examine documents. A VDR that also includes legal practice management can be beneficial for controlling the information exchanged between lawyers and their clients.
If you are using a virtual data room to share documents with third-party users it is recommended to link choose one that is dynamically watermarked. They can be personalized and display the recipient’s IP address as well as email address to each document to prevent sharing without permission and improve traceability if the breach does occur. A VDR with an Excel spreadsheet viewer that enforces security prevents any unauthorized editing or copying.