Data room confidential mode permits the administrator of a virtual data space to restrict the use of a VDR by a particular user based on their IP address or device type. It’s a great tool for M&A deals and other sensitive business ventures.
A good provider will enable the user to have granular rights settings and two-factor authentication. They will also have remote shred that erases downloaded files after administrators have removed access. They will also be able handle the most widely used file formats that include PDFs and Excel XLSXs. The top providers will be able to add a watermark on files that users download to prevent people from sharing leaked copies files online. They can set an expiration date on the files downloaded to prevent unauthorised downloads.
Other useful tools include redaction, which allows the administrator to erase (black out) fragments of text or particular areas of a document from the view of authorized users. This feature is vital because it safeguards all sensitive business information and personally identifiable information from hackers. The most trusted VDR providers can remove PDF, doc, documents, txt and txt files, as well as ppt, pptx images, jpgs and gifs and Q&A attachments.
Some providers let users print out documents that will automatically include a « watermark » and even download the original version. Finally, a good provider provides users with an answer-question feature which allows them to talk about documents in the data room and store answers in a searchable database. This is an excellent tool for M&A transactions, or any due diligence project.