Although free file-sharing services such as Google Drive and Dropbox may be good to share files with small groups, they don’t provide the security level that dedicated data rooms provide. They do not come with the permission settings and auditing capabilities, watermarking, or other features that are required when you transfer sensitive business documents. This is a serious issue especially during M&A transactions where a single leak could be detrimental to the deal and the image https://dataroomanalytics.net/driving-success-in-ma-the-key-advantages-of-using-a-virtual-data-room-for-deal-room-management of your business.
If you’re looking to secure your private data it is essential to select a trusted virtual data room (VDR). Firmex offers solutions for investment banking biotech government, energy, and legal industries and is among the most reliable platforms in its field. It uses multi-layered encryption when transferring and storing data, and has multiple server locations for disaster recovery. It also offers document control and DRM, such as dynamic watermarks, lock-down files and document expiration to avoid data breaches.
Another good VDR is Box, a cloud storage solution that supports bidding, M&A, and contract negotiations. It has bank-level encryption in transit and when data is in storage. You can also personalize your data room with your own logo. It also provides high-quality previews of over 30 types of data, as well as an extensive activity tracking. It also has a wide range of integrations to help you share content with colleagues.
