A virtual data room could be a useful tool for some companies and industries, while it’s an absolute necessity for others. Picking the right one will accelerate a transaction and keep all parties happy during the process. To ensure that you select the most suitable virtual data room, search for a service that has an intuitive, modern interface as well as user-specific permissions for access to the document and in-platform viewing. Also, determine if the provider can monitor and convert data room activity into reports to facilitate project management.
M&A professionals require professionals need a VDR that provides secure storage for significant amounts of data, supports different file formats, and allows multiple users to access files at the same time. M&A platforms that provide customizable workspaces, secure audit logs as well as robust digital rights management (DRM) and insightful insight dashboards enable seamless due diligence and post-transaction integration.
Consultancy firms require secure platforms to share their work with clients and other stakeholders. They also need to ensure that their files are protected, so they can avoid losing work or being exposed by hackers. A safe and secure virtual data room with a simple, user-friendly interface can help them deliver high-quality projects on time and within budget.
Startups are limited in IT resources and require a virtual dataroom that’s easy to configure and has a short adoption curve. Firmex is an example a VDR that can meet these requirements. It simplifies workflow and communication processes, offers an intuitive and intuitive interface, supports more than 25 file formats and features AES256 encryption, two-factor authentication and a free trial without any commitments.