The most effective data room software is simple to use and does not require a long learning curve. This feature is particularly crucial for project-oriented teams and companies who wish to spend their time achieving the desired outcome of a deal transaction, rather than learning an entirely new tool. A lot of providers provide templates, checklists and playbooks to help users work methodically and efficiently. Certain providers offer advanced features such as iDeals Sync, which allows seamless integration with corporate storage systems. Advanced tags, search filters, and optical character recognition tools make it easy to locate any document in seconds. Other features that are common include automatic index numbering and dynamic watermarks that are displayed on top of each uploaded document upon viewing or downloading and printing, as well as activity reports that show who was able to access which documents for the length of time.
The virtual data room iDeals provides an array of security measures that protect confidential information including two-factor authentication, customizable NDAs and bulk user invitation options. It also lets users redact text or images from the document, and to limit access to documents based on IP addresses as well as time.
Q&A reporting allows administrators to look over all questions, comments and responses received by experts in the course of an agreement or project. They can easily assign answers to experts from other experts, adjust the workflow and track every activity. Data can be exported into Excel to make it easier.