The most effective data room software is easy to use and doesn’t require an extensive learning curve. This feature is especially crucial for project-oriented companies and teams that want to focus their efforts in achieving the goal of a deal or transaction instead of figuring out a new tool. Many providers offer templates and checklists to help users work efficiently and effectively. Some providers provide advanced features like iDeals Sync, which allows seamless integration with corporate storage systems. Advanced search filters and tags along with optical character recognition tools help users locate any document in the space of a few seconds. Other features that are common include automatic index numbering and dynamic watermarks which appear on top of each uploaded document after viewing, downloading or printing and activity reports that indicate who has accessed which documents and for the length of time.

The iDeals virtual data room provides several security options that ensure the protection of private information. These include two-factor authentication, customizable NDA and bulk user invitation options. It also lets users erase text, images or certain areas of a document and enable document access restrictions by the time of day and IP addresses.

Q&A reporting permits administrators to see all questions, comments and responses from experts during the course of an agreement or project. They can easily assign the answers to other experts and alter the workflow. Data can be exported to Excel to facilitate data entry.

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