Cloud storage applications and free file sharing services are excellent for sharing files, however they aren’t secure enough and don’t have the access permissions needed for sensitive data exchanges, such as M&A due-diligence and capital raising. These tools also lack the professional first impression needed to impress LPs as well as acquirers, investors and LPs and they don’t have the flexibility of data rooms that are dedicated.
While the cost for premium software for virtual data rooms may seem prohibitive, it’s worth the investment to ensure your confidential data is safe https://opendataroom.net/guardians-of-data-the-impenetrable-security-features-of-top-virtual-data-rooms during any transaction. Small businesses can save money using a VDR. Meanwhile, large corporations employ premium features for M&A due diligence or capital raising.
Choose a VDR that offers comprehensive security features to ensure that your data will be secured from cyberattacks or physical theft after the project has been completed. For example, data rooms with fence view features allow administrators to remotely lock and erase data from stolen or lost devices. Data centers that are physically located are secured by 24/7 surveillance and access policies.
Many VDR vendors also offer advanced customer support to help answer questions and assist users with setting up the solution. Email support is the most frequent, but some offer concierge services as well. Many vendors also allow you to personalize your UI as well as terms and conditions and other visual elements to align them with your brand. This allows all stakeholders to understand and follow the protocol throughout the data exchange.