A virtual dataroom (VDR) lets you share and store confidential documents in a secure environment. It is beneficial for due diligence, M&As and tenders as well as capital raising rounds. It also provides a better level of security than email when communicating with outside parties and decreases the risk of sensitive information becoming leaked or lost during transport.
Typically the VDR has an easy-to-use interface, and 24×7 customer support. The best ones are intuitive, with a short adoption https://getvdrtips.net/comparing-virtual-data-rooms-for-the-best-fit/ curve and no need for formal training. They provide a range of features to aid in due diligence and make it easier and quicker, including secure communication with other users and granular access to documents and Q&A management, as well as customizable NDAs.
The majority of providers offer a variety of pricing models based on features, users and storage size. For smaller projects or those which are only one-off projects, opting for pay per feature can be a good option. Subscription plans are better for large-scale projects or for long-term use.
Firmex is a secure file sharing platform that offers a higher level of security, suited for M&A due diligence. It supports a variety of formats for files, is SOC 2 and HIPAA compliant, features an intelligent search function, multi-level user access controls, advanced activity tracking and alerts regarding usage. Its infrastructure is secured by encryption of data, 24-hour data recovery, virus scanning and a secure online repository.
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