Data room confidential mode allows the virtual data room administrator to limit a particular user’s access to the VDR by determining their IP address or the type of device. It is a valuable tool for M&A transactions and other sensitive business ventures.
A good service will allow users to set granular permissions and use two-factor authentication. They should also provide a remote shred function which erases downloaded documents after administrators have removed access. They will also be able to handle the most popular file formats, including PDFs and XLSXs. The most reliable providers can put a watermark on files that users download, which can deter users from sharing copies of the files online. They can even set an expiration date for downloads 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 essential because it shields sensitive business information and personally identifiable information from hackers. The most reliable VDR providers can remove PDF, doc, documents, txt and ppt as well as pptx, pptx as well as gif, jpg and jpg files as well as Q&A files.
Certain providers will let users print out documents which will automatically include a watermark and they will also allow users to download the original version of the file. Additionally, a reputable provider offers users an answer-question feature which allows them to talk about files in the data room and store answers in an easily searchable database. This is a valuable tool for M&A transactions, or any due diligence project.