Data room confidential mode permits the administrator of a virtual data space to restrict the use of the VDR by a particular user based upon their IP address or device type. It’s a great tool for M&A deals as well as other shady business ventures.
A good provider will allow users to set granular permissions and use two-factor authentication. They will also include a remote shred function which erases downloaded documents after an administrator has removed access. In addition, they will be able to handle the most popular file formats, including PDFs and XLSXs. The best providers can add watermarks on the files users download, which will discourage users from sharing copies of the files online. They can also set a date for the expiration of downloads which will block unauthorised downloading.
Other useful tools include redaction that allows the administrator to block (black out) portions of text or particular areas of a text from the view of authorized users. This is crucial because it safeguards all sensitive business data as well as personally identifiable information from hackers. The most trusted VDR providers will be able to remove PDF, doc, docx, txt, ppt, pptx images, jpgs and gifs along with Q&A attachments.
Some providers let users print documents that automatically add a watermark. they may even permit users to download the original version of a document. Finally, a good provider provides users with a question and answer feature that allows them to discuss documents in the data room and store answers in a searchable database. This is a useful tool for M&A transactions, or any due diligence project.
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