16 Sep Data Room Confidential Mode
Data room confidential mode allows the virtual data room administrator to limit a specific user’s use of the VDR in accordance with their IP address or the type of device. It’s a useful tool for M&A deals and other sensitive business ventures.
A good service will allow users to create granular permissions, and also use two-factor authentication. They will also have a remote shred feature that deletes downloaded documents after an administrator has removed access. Additionally they will be able handle the most common formats for files, such as PDFs and XLSXs. The best providers can add a watermark to the files users download, which deters users from sharing copies of the files online. They can even specify a time limit for files that have been downloaded which will prevent unauthorised downloading.
Other useful tools include redaction, which enables the administrator to remove (black out) portions of text or specific areas of a text from the view of authorized users. This is essential because it protects all personally identifiable information and important business information from hackers. The most trusted VDR providers will be able to remove PDF, doc, docx, txt or ppt as well as gif, jpg and jpg files and Q&A attachments.
Certain providers will let users print documents that automatically include a watermark and they can even allow users to download the original version of a file. A reputable provider will offer a question-and-answer function that allows users to discuss documents in the dataroom. They also store answers in the form of a searchable database. This is a great feature for M&A deals or any due diligence project.