While cloud storage applications and free file sharing services are useful tools for everyday file sharing however, they do not provide the full access permissions and security features required for sensitive data exchanges like M&A due diligence or capital raising. They also don’t provide the professional first impression needed to impress LPs or investors as well as acquirers and don’t provide the flexibility of dedicated data rooms.
While the cost for premium virtual data room software might seem steep however, it’s worth the investment to ensure your confidential files remain safe during any transaction. Small businesses can benefit from the cost-saving potential of a VDR while large corporations rely on premium capabilities for their M&A due diligence and capital raising activities.
Choose the VDR that has comprehensive security features to ensure that your data is protected from cyberthreats or physical theft, even after the project is completed. For example, data rooms with fence view feature allow admins to remotely erase and lock data from lost or stolen devices. Data centers that are physically located are secured by a 24/7 surveillance system and access policies.
Furthermore, a majority of VDR vendors provide advanced customer service that can answer queries and help users in setting up the solution. The majority of vendors provide email support, however some also provide concierge services. Some vendors also allow you to customize 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 rules during the data exchange.