The most secure virtual data rooms comply with security standards, allow users to be granted granular rights and features such as dynamic watermarks that prevent printing, saving or copying which makes it difficult for cybercriminals to make use of confidential documents. It doesn’t matter if it’s for M&A or fundraising, businesses who need to share documents with a third party require the right tools to safeguard sensitive information and keep operating smoothly.
When it comes down to selecting a virtual data space, there are plenty of options available that can suit different businesses, but many of these providers lack crucial functionality. You should read reviews on reliable websites for software reviews to determine whether the vendor offers the functionality that you need for your transaction. There are other services that are usually included with the virtual data room.
Some of the best-known virtual data room providers are traditional, with a history going back to pre-Internet era and a well-established name. They include RR Donnelley, Intralinks and Datasite. They are known for their feature-richness and were created with M&A in mind because due diligence in this process requires a significant amount of scrutiny of documents. However, they typically cost a lot and might not meet the needs of smaller deals.
Other providers are newer and more creative. Firmex is an example of a rising-star that offers the usability and security of bigger players while delivering the cost savings associated with a start-up. This company is trusted by a wide range of industries and offers advanced user settings, ISO 27001 certification and other standards of compliance. Its simple interface and easy-to-use features are also a plus for users.