The best virtual datarooms meet security regulations, offer granular permissions for users and feature features such as dynamic watermarks, which prevent printing, copying, and saving. This makes it more difficult for cybercriminals to take advantage of private information. Whether it’s for M&A or fundraising, businesses who must share documents with other parties need the right tools to protect sensitive information and keep operating smoothly.
There are many options when it comes time to select the best virtual dataroom. However, many of these providers do not offer the functionality that is required by businesses. It is important to read reviews on well-known review sites to determine if the business has the features you require for your transactions. You can also research the additional services that come with virtual data rooms.
Some of the most well-known virtual data rooms are traditional companies with a long history that goes back to before the Internet and an established name. RR Donnelley Intralinks Datasite are one of the most popular virtual data room providers. They are known to be feature-heavy and were specifically designed for M&A because due diligence is a procedure that requires lots of scrutiny of documents. They are usually expensive and might not be able to be able to meet the requirements of smaller transactions.
Other providers are more innovative and more modern. Firmex is an example of a rising-star which offers the convenience and security of the larger players, but also offers the cost-savings that come with a start-up. The company is backed Board Pack by a wide range of industries and has advanced user settings, ISO 27001 certification and other protocols for compliance. Users will also appreciate its simple interface and easy-to-use functions.