The best virtual data rooms comply with security standards, allow the user to grant granular permissions and include options like dynamic watermarks that stop printing, saving or copying, making it difficult for cybercriminals to take advantage of confidential documents. Companies who share documents with third-party companies whether for M&A or fundraising, require the right tools to safeguard sensitive data and ensure that business operations running smoothly.
When it comes to selecting a virtual data space, there are a variety of options to choose from that can be suited to various businesses, however many of them lack essential functionality. It is important to read reviews on renowned software review websites to determine if the company offers the features you require to conduct your business. There are other services that are often bundled with the virtual data room.
Some of the most well-known virtual data room providers are traditional, with a history that goes back to pre-Internet days and a well-known brand. RR Donnelley Intralinks Datasite are some of the most well-known virtual data room providers. They are known to have a lot of features, and were designed for M&A because due diligence is a best data room software process that requires a lot of document scrutiny. They are generally expensive and might not be able to satisfy the requirements of smaller transactions.
Other providers are more ingenuous and more modern. Firmex is an example of a rising-star that offers the usability and security of bigger players while delivering the cost savings that come with a start-up. This provider is trusted by a variety of industries, and offers sophisticated user settings, ISO 27001 certification and other protocols for compliance. Users will also appreciate its simple interface and simple functions.
