The software for your data room is unique due diligence software that gives structure, organisation and ease of use to a complex and lengthy process. In M&A, capital raising, tenders and other corporate events, there are countless documents that must be reviewed before a decision can be taken. Compiling all the information data room Life Sciences can be time-consuming and is prone to errors.

There are many tools that can make the review process more efficient. One of them is a powerful Q&A tool that allows you to add comments or questions and responses to all documents in the data room in real-time. Another is a variety of security options including fence view, screen locking and encryption. These will help in preventing unauthorised access and decrease the possibility of cyberattacks and breaches that might occur after sensitive data leaves your firewall.

Another crucial feature is the granular permission settings, which can be applied based on the role, folder and document level. For instance, you could decide to limit viewing or downloading of spreadsheets to certain users only and also provide the option for users to add notes.

If you’re looking for more advanced features, search for a provider that has customized security controls. iDeals for instance, allows users to add a custom watermark on documents and to set multiple permissions such as ‘view-only’ modes, fence views, screenshot blocking, and remote wipe, as well as up to eight levels of document access control. It also supports multiple languages and has redaction built-in.