A virtual data room (VDR) is a secure repository for sharing and storing confidential data. It assists with due diligence, M&As, tenders and capital raising rounds through allowing the systematic review of documents in a controlled environment. It also provides a better level of security than email when communicating with external parties and decreases the risk of sensitive information becoming leaked or lost during transport.
A VDR typically has an easy interface and 24-hour support. The most effective ones are simple, with a short acceptance curve and no requirement for formal training. They have a variety of options to help make due diligence simpler and faster, such a secure communication with other users, granular permissions for documents and Q&A management, as well as customizable NDAs.
Many providers also offer various pricing options depending on the amount of features, users or storage size. For smaller projects or ones that are a one-off decision, choosing a pay-per-use feature can be a good option. Subscription plans are best for large-scale projects or for long-term use.
Firmex is a secure file sharing platform that offers a high level of security, suitable for M&A due diligence. It supports a variety of file formats, is SOC 2 and HIPAA compliant and has an intelligent search function, multi-level user access controls advanced activity tracking, and usage alerts. The infrastructure is protected by data encryption, 24-hour data recovery, virus scanning and an online repository that is secure.
https://getvdrtips.net/comparing-virtual-data-rooms-for-the-best-fit/
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