Data room confidential mode is a feature which allows administrators of virtual data rooms to limit a particular user’s use of the VDR based on their IP address or the type of device. It’s a great tool for M&A deals and other sensitive business ventures.
A good service will permit users to set granular permissions and use two-factor authentication. They will also provide remote shred which deletes documents downloaded after an administrator removes access. Additionally they will be able handle the most common file formats including PDFs and XLSXs. The most reliable providers can put watermarks to files that users download, which can deter people from sharing copies the files online. They can also set an expiration date on files that my company are downloaded to prevent unauthorised downloads.
Other useful tools include redaction that allows the administrator to erase (black out) portions of text or specific sections of a text from the view of authorized users. This feature is crucial as it will protect all personal information and critical business information from hackers. The most reliable VDR providers can redact PDF Doc, Docx, PPTX, TXT, PPTX GIF, JPG and Q&A files.
Some providers allow users to print out documents that automatically include a “watermark” and download the original version. A reputable provider will offer a question-and-answer function that allows users to talk about documents in the dataroom. They also keep answers in a searchable database. This is an excellent tool for M&A transactions, or any due diligence project.