A virtual data room (VDR) is an encrypted repository for sharing and storing confidential data. It is useful for due diligence, M&As and tenders as well as capital raising rounds. It provides a higher level of security when communicating with external parties, and decreases the possibility of sensitive information being lost or leaks.
A VDR typically has an easy interface as well as 24/7 support. The best ones are intuitive and have a low time to adopt and no need for formal training. They have a variety of options to make due diligence easier and faster, such as secure communication with other users as well as granular permissions for documents, Q&A management and customizable NDAs.
Most providers offer a variety of pricing models based on features, users and storage capacity. Pay per feature is a good option for smaller projects or one-offs. For more extensive projects and for long-term use the option of subscription plans is more https://getvdrtips.net/comparing-virtual-data-rooms-for-the-best-fit/ appropriate.
Firmex is a specialized file-sharing platform with a high security level. It is ideal for M&A due-diligence. It supports a variety of file formats and is HIPAA and SOC 2 compliant. It also features an intelligent search feature, multi-level access controls, advanced tracking and usage alerts, as well as multi-level user control. Its infrastructure is secured with encryption of data and virus scanning. It is also available 24 hours a day for data recovery and a secure, online repository.