28 Aug How to Compare Secure Data Room Providers
If your company is involved in M&A or other sensitive business processes, you’ll need secure data room providers to safeguard confidential documents from being exposed to unauthorized people. These are certified vendors that provide software-as-a-service that complies with digital standards for document storage and file sharing. They also offer a variety of tools that can help your M&A process from due diligence to closing the deal, including e-signature solutions.
Certain VDRs are focused on specific sectors. For instance, iDeals has been widely used by M&A advisors and life science companies for due diligence. CapLinked is also a good alternative for real estate transactions, fundraising and asset sales.
Compare the features of several secure data rooms to compare the features of different secure data. You should look for one that lets you identify who has access to your documents and when. Some data room providers mark documents with watermarks, block downloads and disable screen shots to minimize the risk of unauthorized use. They will also include security timeouts, as well as granular settings for users to improve security for data. Digify, for example will prioritize data security by using dynamic watermarking and screen shields and a strong user profile.
Accessibility is a crucial factor. You must choose a reliable company with 24/7 access and is compatible with your current systems. A top provider of online data rooms should also have an easy-to-use and well-organized interface. It will also provide an intuitive search function with a central index, as well as secure folders to share and download data.