Cloud storage apps and free file sharing services are useful tools for everyday file sharing but they don’t offer the full access permissions and security features required for sensitive data exchanges like M&A due diligence and capital raising. These tools don’t have the professionalism required to impress LPs and investors, and don’t offer the flexibility that dedicated data rooms provide.
Although the price of high-end virtual data rooms might seem high however, it is worth it to ensure your confidential files are kept safe throughout every transaction. Small businesses can benefit from the potential savings that a VDR can bring, while large corporations depend on the highest-quality features for their M&A due diligence and capital raising.
Choosing the VDR provider that offers extensive security measures ensures that your data is secured from physical and cyber-attacks even after the project has been completed. Data rooms that have fence view features allow admins to remotely lock or erase data from stolen or lost devices. Furthermore, physical data rooms are secured by 24-hour surveillance and access control policies that are restricted.
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 offer concierge services. Additionally, many vendors allow you the ability to customize the UI as well as the terms of service and other visual elements to be in line with your brand. This makes it easier for all stakeholders to understand and follow the protocol during the data exchange.
