A virtual data room (VDR) is an encrypted restoring accidentally deleted documents or requests in a data room repository for sharing and storing confidential data. It is beneficial for due diligence, M&As and tenders as well as capital raising rounds. It offers a higher degree of security when communicating with external parties, and reduces the possibility of sensitive information being lost or leaks.
A VDR typically has a simple interface and 24/7 support. The best VDRs are intuitive and require minimal training. They offer a variety of options to facilitate due diligence and make it quicker, such as secure communication with others, granular permissions for documents as well as Q&A management. They also offer customizable NDAs.
Most providers also provide various pricing models depending on the amount of features, users or storage size. Pay per feature is an excellent option for smaller projects or one-offs. For large-scale projects and long-term usage, the choice of a subscription plan is more appropriate.
Firmex is an advanced file-sharing platform with a high level of security. It’s ideal for M&A due-diligence. It supports a variety of formats for files, is SOC 2 and HIPAA compliant with an intelligent search function as well as multi-level user access controls advanced activity tracking and alerts about usage. Its infrastructure is protected by data encryption and virus scanning. It also provides 24-hour data recovery, and a secure online repository.
