While cloud storage apps and free file sharing services are useful tools for everyday file sharing, they don’t provide the full access permissions and security features that are required for sensitive data exchanges like M&A due diligence or capital raising. These tools lack the professionalism to impress LPs and investors, and they aren’t able to provide the flexibility that dedicated data rooms provide.
While the price barrier for premium software for virtual data rooms may seem high however, it’s worth the investment to ensure that your personal data is safe during every transaction. Small businesses can save money using a VDR. On the other hand, large corporations utilize premium features for M&A due diligence or capital raising.
Choose the VDR with extensive security features to ensure that your data is safe from cyberattacks or physical theft long after the project has been completed. Data rooms with fence view capabilities allow administrators to remotely lock or erase data from stolen or lost devices. Additionally, physical data centers are protected by 24/7 surveillance and access control policies that are restricted.
Additionally, many VDR vendors provide advanced customer support that can answer questions and assist users to in setting up the solution. Most vendors offer email support, however, some offer concierge services. In addition, many vendors allow you to customize the UI, terms of service and other visual elements to align with your brand. This makes it easier for everyone to comprehend the protocol and follow it throughout the data transfer.