Free file-sharing apps like Google Drive or Dropbox are good for sharing files in small groups but they don’t offer the same level of security as data rooms provide. The truth is that they don’t have permission settings, auditing capabilities, watermarking, or other features that are required when you transfer sensitive documents for business. This is a major issue, particularly in M&A transactions when a single leak could be costly to the deal and the image of your business.
You must make use of a virtual data room to safeguard your private information. Firmex is a trusted platform which provides solutions to the government, investment banking biotech, energy and legal sectors. Firmex uses multi-layered encryption to transfer and store information, and has multiple servers in various locations to ensure disaster recovery. It also offers document control and DRM options, such as dynamic watermarks and lock-down files. Document expiration is also a feature to protect against data breaches.
Another great VDR is Box Cloud Storage, a cloud-based solution that is able to support bidding, M&A, and contract negotiations. It is encrypted at bank level during transit and in rest, and allows you to personalize your data room experience to reflect your own brand. It also offers high-quality previews for more than 30 kinds of files, as well as a robust activity tracking. It also has a variety of integrations that www.dataroomanalytics.net/driving-success-in-ma-the-key-advantages-of-using-a-virtual-data-room-for-deal-room-management/ make it easy to share content.
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