Cloud storage applications and free file sharing services are excellent for sharing files, but they lack the security and access rights needed for sensitive data exchanges like M&A due diligence and capital raising. These tools don’t give the professional first impression required to impress LPs or investors as well as acquirers and don’t provide the flexibility of data rooms that are dedicated.
While the cost of premium virtual data rooms can you can find out more seem high but the investment is well worth it to ensure that your private data is safe during every transaction. Smaller businesses can save money using a VDR, while large corporations can benefit from premium features for M&A due diligence or capital raising.
Choosing the VDR provider that provides comprehensive security measures ensures that your data is secured from physical and cyber threats even after the project is completed. For instance data rooms with fence view capabilities allow administrators to remotely erase and lock data from stolen or lost devices. Data centers that are physically located are secured by 24/7 surveillance and access rules.
Many VDR vendors also offer advanced customer service to answer questions and assist users with setting up the solution. Support via email is the most frequent however some also provide concierge services as well. In addition, many vendors allow you the ability to customize the UI, terms of service and other visual elements that align with your brand. This will make it easier for everyone to understand the protocol and follow it during the data transfer.
