A virtual dataroom (VDR) is an online platform that is used to archive confidential documents and other data. VDRs are used in M&A transactions, and other business processes that require large data uploads and detailed document examination. In addition to storing large files, a lot of VDRs come with advanced features like granular user permission settings and auditing capabilities, as well as dynamic watermarking and other security measures. While free tools for sharing files are great for everyday collaboration but they aren’t equipped with the same security features necessary to share sensitive documents and data during M&A deals.
Choose a VDR which is encrypted and comes with a strong password policy. The most secure VDRs will also allow you to track every aspect of the system and provide detailed analyses and reports. These features will improve your overall security and help you find roadblocks that can hinder your workflow.
When choosing a virtual storage room, you should take into consideration how much storage you require as well as how many users and workspaces are included in the plan you select. Certain vendors offer a variety of payment options, including per-storage or per-page plans. Others will create plans that are custom based on the customer’s needs and requirements.
Firmex is the top-rated VDR. It has many advantages over competitors, such as advanced Q&A sections as well as user-to-user messaging across platforms. This virtual data room is perfect for transactions that are strategic. It offers a 15 day trial at no cost and 1GB storage.