Data room confidential mode is a feature which allows the administrator of the virtual data room to limit a particular user’s use of the VDR according to their IP address or the type of device. It’s a valuable tool for M&A deals and other sensitive business ventures.
A good service will allow users to set granular permissions and use two-factor authentication. They will also provide remote shred which deletes documents downloaded after administrators have removed access. In addition, they will be able to handle most popular file formats, including PDFs and XLSXs. The top providers will be able to add watermarks to files that users download which will help stop users from sharing leaked copies of files online. They can set an expiration date for the files downloaded to prevent downloads that are not authorized.
Redaction is a third tool that allows administrators to hide (black out) specific text fragments or areas of a file from authorized users. This feature is crucial as it will protect any personally identifiable information as well as critical business data from hackers. Most reliable VDR providers can erase PDF, doc documents, txt and txt files, as well as ppt, pptx images, jpgs and gifs and Q&A attachments.
Some providers error checking for updates allow users to print out documents that will automatically include a “watermark” and even download the original version. A good service will offer a question and answer feature that allows users to talk about documents in the dataroom and keep answers in an easily searchable database. This can be invaluable for M&A deals as well as any due diligence project.