The best virtual data rooms comply with security standards, allow users to have granular access and offer features like dynamic watermarks that prevent printing, saving and copying and making it impossible for cybercriminals to take advantage of confidential documents. Whether it’s for M&A or fundraising, companies who need to share documents with third parties need the right tools to protect sensitive information and ensure that their business operations running smoothly.
When it comes down to selecting a virtual data space, there are many choices that are suited to different businesses, but a majority of them lack essential capabilities. It is important to read reviews on the most reputable software review websites to determine if the provider provides the functionality you need for your transactions. You can also explore additional services that are typically included with the virtual data room.
Some of the most well-known virtual data room providers are traditional, with a background that goes back to pre-Internet days and a well-known brand. They include RR Donnelley, Intralinks and Datasite. They are known for their feature-rich nature and were designed with M&A in mind, as due diligence in this process demands an enormous amount of document scrutiny. They are usually expensive and might not be able to accommodate the requirements of smaller transactions.
Other providers are more ingenuous and more modern. Firmex is an example of a rising-star which Secure Data Rooms offers the convenience and security of bigger players, but also offers the cost-savings associated with starting a business. Firmex is a trusted company by a wide range of industries and offers advanced user settings, an ISO 27001 certification and other protocols for compliance. Users will also appreciate its simple interface and simple functions.