While cloud storage applications and free file-sharing services are great tools for sharing files on a daily basis however they lack the full access permissions and security features needed for sensitive data exchanges, such as M&A due diligence and capital raising. These tools don’t have the professionalism required to impress LPs and investors, and do not provide the flexibility that dedicated data rooms can offer.
While the cost for high-end virtual data room software might seem steep however, it’s worth the investment to ensure that your personal data is safe during every transaction. Small and medium-sized enterprises can benefit from potential savings that a VDR can bring, while large corporations depend on top-quality capabilities for their M&A due diligence and capital raising.
Choosing an VDR provider that has complete security measures will ensure that your data is secure from cyberthreats and physical theft, even after the project has been completed. Data rooms with fence view features allow admins to remotely lock or erase data from stolen or lost devices. Additionally, physical data rooms are protected by 24/7 surveillance and restricted access policies.
Many VDR providers also provide advanced customer support to help answer questions and assist users with setting up the solution. The majority of vendors provide email support, however, some also provide concierge services. In addition, many vendors allow you the ability to customize the interface, terms of service, and other visual elements to match with your brand. This makes it easier for all parties to comprehend and adhere to the protocol during the data exchange.