Avoid Costly Mistakes With Free Data Room Services

Data rooms aid in speeding the due diligence process in M&A and capital raising, simplify business transactions, and secure sensitive information. The dedicated virtual data rooms are more secure than standard tools for sharing files and can be tailored to meet specific business demands. However, some companies believe that they can save money by using free virtual data room services instead. This is a false assumption, as the free data rooms are more prone to unauthorized access and privacy breaches. These can be costly or impossible to recover from.

Select a vendor who offers advanced features in a low-cost package to avoid costly errors. For instance, a great VDR offers an automatic file index as well as a dynamic watermark which includes the email address of the recipient to the document at a real-time rate to prevent screenshots. It also has advanced expiry options and DRM to prevent unauthorized printing and sharing. It should also include an individualized portal for clients and partners as well as an easy-to-use graphical interface that is equally easy to use by both the CFO and entry level accountant.

A great VDR should be compatible across an array of operating systems and mobile devices. It should also come with powerful reporting capabilities that convert audit logs of activities into useful reports. Visual analytics should be made available to streamline and enhance M&A and due diligence processes. It should also allow users to set access permissions which are based on each user’s job.

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