While free file sharing tools such as Google Drive and Dropbox may be good for sharing files between small groups, they don’t offer the same level of security dedicated data rooms provide. They do not have the permissions settings as well as auditing capabilities, watermarking, and other options that you need when transferring sensitive documents for business. This is a major issue especially during M&A transactions where a single leak could be detrimental to the deal and to the image of your business.
You must utilize a virtual data space to safeguard your personal information. Firmex offers solutions for the investment banking biotech, government, energy and legal industries and is among the most reliable platforms in its field. It employs multi-layered data encryption to transfer and store information, and has multiple servers in different locations to ensure disaster recovery. It also offers document control and DRM, such as dynamic watermarks, lock-down files, and expiration dates to protect against data breaches.
Box is another great VDR. It’s cloud-based storage that supports M&A dataroomanalytics.net/how-does-a-digital-data-storage-work-and-which-features-to-consider/ and contract negotiations. It comes with bank-level encryption during transit and in rest, and allows you to personalize your data room experience by adding your own branding. It also offers high-quality previews for 30+ kinds of files, and a an extensive activity tracking. It also comes with a vast variety of integrations to help you share content with colleagues.