While free file-sharing applications such as Google Drive and Dropbox may be useful for sharing files among small groups, they’re not able to provide the same level of security that dedicated data rooms do. The truth is that they do not come with the permission settings, auditing capabilities, watermarking, or other features that you require when sharing sensitive business documents. This is a serious issue particularly during M&A processes, when even a small leak can be costly for the deal and for your company’s reputation.

You need to use a virtual space to safeguard your personal information. Firmex offers solutions for the investment banking biotech government, energy, and legal industries and is among the most trusted platforms in its domain. Firmex uses multi-layered encryption to transfer and store information and has multiple servers in various locations to ensure disaster dataroomanalytics.net recovery. It also provides document control and DRM, such as dynamic watermarks and lock-down files as well as document expiration to avoid data breaches.

Another excellent VDR is Box, a cloud storage solution that can be used for bidding, M&A, and contract negotiations. It has bank-level encryption during transit and in rest, and allows you to personalize the data room experience by adding your own branding. It also has high-quality previews of 30+ types of files as well as robust activity tracking. It also comes with a variety of options that make it easy to share content.