Data room confidential mode allows the administrator of a virtual data room to restrict the use of a VDR by a specific user based on their IP address or the type of device. It’s an invaluable tool for M&A deals and other sensitive business ventures.
A reputable provider will offer users to set their own rights in granular ways and two-factor authentication. They should also provide a remote shred function which erases documents that are downloaded after administrators have removed access. In addition, they will be able handle the most popular file formats, including PDFs and XLSXs. The most trusted providers will be able to add a watermark on files that users download, which deters users from sharing copies of the files online. They can also set an expiration date for files downloaded which will stop unauthorised downloading.
Other useful tools include redaction. It allows administrators to eliminate (black out) fragments of text or certain areas of a document from the view of authorized users. This feature is crucial since it safeguards all sensitive business information and personally identifiable information from hackers. Most reliable VDR providers can remove PDF, doc, documents, txt and ppt as well as pptx, pptx images, jpgs and gifs and Q&A attachments.
Some providers allow users to print out documents that will automatically include a “watermark” and even download the original version. A good service will offer users an answer-question feature that lets them discuss files in the data room and keep answers in a searchable database. This is a valuable tool for M&A transactions or any due diligence project.
