A virtual dataroom (VDR) allows you to share and archive confidential files in a secure setting. It aids in due diligence, M&As, tenders and capital raising rounds by enabling the systematic review of documents in a controlled environment. It provides a higher level of security when communicating with other parties, and decreases the chance of sensitive data being lost or being leaked.
A VDR typically provides an easy interface and 24 hour support. The best ones are intuitive, with a short time to adopt and no need for formal training. They offer a variety of options to make due diligence easier and quicker, including secure communication with others and documents with granular permissions and Q&A management, as well as customizable NDAs.
The majority of providers offer a variety of pricing plans, based on features, users and storage size. For smaller projects or ones that are just one-off events option, a pay-per-use feature is a great option. For large-scale projects and long-term usage it is recommended to select a subscription plan is more suitable.
Firmex is a secure file sharing platform that provides a high-level of security, suited for M&A due diligence. It supports a variety of formats for files, is SOC 2 and HIPAA compliant and features an intelligent search function with multi-level user access control as well as advanced activity tracking and usage alerts. Its infrastructure is secured with data encryption and virus scanning. It is also available 24 hours a day for data recovery, and a secure online repository.
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