The most effective data room software is user-friendly and does not require a lengthy learning curve. This feature is especially important for teams that are project-oriented and businesses who want to focus their time achieving the desired result of a deal transaction, rather than acquiring an entirely new tool. Many companies offer checklists and templates that can help users work efficiently and effectively. Some have even advanced features like iDeals Sync to allow for seamless integration with corporate file storage systems. Advanced search filters and tags with optical character recognition tools aid users locate any document in only a few seconds. Other features that are common include automatic index numbering and dynamic watermarks that appear on top of every uploaded document upon viewing or downloading it, and activity reports that detail who has accessed what documents for the length of time.
The iDeals virtual room comes with a number of security features that safeguard confidential information, including two-factor authentication and customizable NDAs. It also offers bulk invitations to users. It also lets users remove text, images or specific sections of a document and enable document access restrictions by the time of day and IP addresses.
Q&A reporting enables administrators to see and print all questions, answers and comments received from experts during the course of a deal or project. They can easily transfer the answers to other experts and alter the workflow. The data can be exported to Excel to make it easier.