A virtual dataroom (VDR) lets you share and store confidential documents in a secure location. It can aid in due diligence, M&As, tenders and capital raising rounds by enabling an organized review of documents in a controlled environment. It gives a higher level of security when communicating with third parties, and minimizes the chance of sensitive data getting lost or being exposed.
Typically the VDR has an easy-to-use interface, and 24×7 customer support. The most effective VDRs are easy to use and require little or no training. They come with a range of features that make conducting due diligence faster and more efficient, such as secure communication with other parties, granular document permissions including Q&A management and customization of NDAs, and drag-and-drop bulk upload.
A majority of providers also offer different pricing models that are based on the number of users, features or the size of storage. Pay per feature is a good option for smaller projects or one-offs. For large-scale projects and long-term usage the option of a subscription plan is more suitable.
Firmex is a secure file-sharing platform that offers a higher level of security that is suitable for M&A due diligence. It supports a range of file formats and is SOC 2 and HIPAA compliant, features an intelligent search function as well as multi-level user access controls as well as advanced activity tracking and alerts regarding usage. Its infrastructure is secured with data encryption and virus scanning. It is also available 24 hours a day https://getvdrtips.net/comparing-virtual-data-rooms-for-the-best-fit/ for data recovery and an online, secure repository.