In a day and age where data is so valuable it has become a corporate asset it is imperative to ensure that it is secure. Virtual data rooms are a way to guard against theft and unauthorised access. They are essentially online filing systems with the ability to limit access to users down to the file level. Many companies utilize VDRs to streamline processes such as M&A due diligence and corporate finance.

It is important to choose the right virtual dataroom provider. When looking for solutions, you should consider cost structure — it is recommended to stay clear from providers that charge per page or for overages in relation to storage size or duration of use. You should also look for providers that offer several plans to allow you to select a solution to suit your needs and budget.

For instance, Digify is a user-friendly solution that is compatible with a range of operating systems and allows unlimited storage and users. It also has advanced features like 2-factor authentication, security present, and permission denial. It also has a range of integrations with Google Drive, Dropbox, and Box. This solution is ideal for small business and low-level transactions. It offers a free trial of 30 days.

Another option that is great for M&A due diligence is Firmex which has been in operation for 12 years, and helps companies to manage M&A deals that involve visual analytics. Firmex also offers a thirty-day trial for free and offers assistance via phone, documentation webinars, forums, and documentation. The software is used by many prominent companies, including Deloitte and Good Year.

dataroomes.com/the-complete-guide-to-the-best-data-rooms-and-why-they-are-necessary