In a day and age when data is so valuable it is now a valuable corporate asset and it is crucial to keep it safe. Virtual data rooms can be used to guard information from theft or unauthorized access. They are essentially online filing systems with the capability of controlling access to users at the file level. Many businesses use VDRs to simplify processes such as M&A due diligence and corporate finance.
The choice of the best virtual data room provider is vital. When looking at options, take into consideration cost structure — it is recommended to stay clear of companies who charge per page or for overages in relation to storage size or time of use. Also, look for providers who offer several plans so that you can select a solution to suit your needs and budget.
Digify, for example, is a user-friendly solution that works with multiple operating systems and provides unlimited storage and users. Digify also offers advanced features, such as 2-factor authentication, security presents and permission cancellation. It also has a variety of integrations with Google Drive, Dropbox, and Box. This software is ideal for small-scale transactions and business needs and offers a free trial.
Another option for M&A due diligence is Firmex, which has been operating for 12 years and helps businesses to manage M&A deals using visual analytics. It offers a 30-day trial and provides support via the phone, documents and webinars. This software is used by a variety of high-profile firms such as Deloitte and Good Year.