The most secure virtual data rooms are compliant with security standards, permit users to have granular access and offer features such as dynamic watermarks that stop printing, saving, and copying which makes it difficult for cybercriminals to make use of confidential documents. Companies who share their documents with third-party organizations whether for M&A or fundraisers, need the right tools to guard sensitive data and ensure that business operations running smoothly.
When it comes to selecting the right virtual data room there are numerous options to choose from that can be suited to different businesses, but a majority of these companies lack crucial capabilities. It is essential to read the reviews on respected review sites to determine if the company has the capabilities you require for your transactions. You can also look into other services that are often included with the virtual data room.
Some of the most well-known virtual data room providers are traditional, and have a history that goes back to pre-Internet days and a well-established name. RR Donnelley Intralinks Datasite are some of the most well-known virtual data room companies. They are renowned for their feature-richness and were developed with M&A in mind, as due diligence in this process demands an enormous amount of scrutiny of corporate due diligence documents. They tend to be expensive and may not meet the needs of smaller transactions.
Some providers are newer and more innovative. Firmex is a good example of a rising star that offers the convenience and security of larger companies, but with the cost savings of a new company. The company is backed by a variety 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 appealing for users.
