Data room confidential mode permits the administrator of a virtual data space to restrict the use of a VDR by a specific user based on their IP address or device type. It’s a great tool for M&A transactions as well as other sensitive business ventures.
A good provider will allow users to create granular permissions, and also use two-factor authentication. They will also offer remote shred that erases downloaded documents after administrators have removed access. They will also be able to handle the most popular file formats that include PDFs and Excel XLSXs. The most reliable providers can put a watermark on files that users download, which discourages people from sharing copies of the files online. They can set an expiration date on downloads to prevent unauthorised downloads.
Other useful tools include redaction, which allows the administrator to erase (black out) fragments of text or specific areas of a text from the view of authorized users. This is essential because it safeguards all personal information and important business information from hackers. Most reliable VDR providers can redact PDF, Doc, Docx, PPT, Txt GIF, JPG, and Q&A files.
Some providers allow users to print out documents which will automatically include a watermark and they may even permit users to download the original version of the file. A good service will offer users the ability to ask questions and answer that lets them discuss files in the data room and record answers in an easily searchable database. This is a valuable tool for M&A transactions, or any due diligence project.