While cloud storage apps and free file-sharing services are useful tools for sharing files but they don’t offer the full access permissions and security features needed for data exchanges that involve sensitive data, such as M&A due diligence and capital raising. These tools don’t give the professional first impression needed to impress LPs or investors as well as acquirers and don’t provide the flexibility of dedicated data rooms.
Although the price of premium virtual data rooms can seem expensive however, it is worth it to ensure your private files are secure throughout every transaction. Smaller businesses can save money using a VDR, whereas large corporations use premium features for M&A due diligence or capital raising.
Selecting the VDR service that comes with extensive security measures ensures that your data is secured from physical and cyber-attacks, even after the project has been completed. Data rooms with fence view features allow admins to remotely erase or lock 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 security features of leading virtual data rooms and assist users in setting up the solution. Support via email is the most popular, but some offer concierge services too. Furthermore, many vendors allow you to customize the UI, terms of service, and other visual elements that align with your brand. This makes it easier for all parties to comprehend and follow the protocol during the data exchange.