Free file-sharing applications like Google Drive or Dropbox are great for sharing files in small groups, but they do not offer the same level security that data rooms do. In reality, they don’t have permission settings, auditing capabilities, watermarking, or other features which are essential when you transfer sensitive business documents. This is a major issue especially in M&A transactions where a single leak could be detrimental to the deal and your company’s image.
It is essential to use a virtual data room to protect your confidential information. Firmex offers solutions for the investment banking biotech government, energy, and legal industries and is among the most popular platforms in its field. Firmex employs multi-layered encryption for transferring and storing information, and has multiple servers in various locations to ensure disaster recovery. It also offers document control and DRM, such as dynamic watermarks and lock-down files as well as document expiration to avoid dataroomanalytics.net/running-a-successful-startup-crowdfunding-campaign-a-guide data breaches.
Another excellent VDR is Box Cloud, a cloud-based storage solution that is able to support bidding, M&A, and contract negotiations. It comes with bank-level encryption during transit and in rest, and allows you to customize the data room experience to reflect your own brand. It also provides high-quality previews for 30+ types of files and extensive activity tracking. It also has a wide array of integrations to allow sharing of content with colleagues.
