If you’re a business owner preparing to conduct an M&A or IPO it is vital to choose a provider of virtual data rooms that can handle these sensitive and confidential transactions. There are many features you should look for in a reputable virtual deal room. These include advanced security tools, activity tracking, and specific permission settings. Some VDRs also allow you to document sensitive documents, watermark them as well as track screenshots and downloads and provide other customizable options for document handling.
Some of the most well-known data room providers are iDeals, Box, SecureDocs and Firmex. iDeals has a variety of pricing plans, advanced features and easy-to-use interface make it ideal for small and medium-sized enterprises. Box is a basic tool for sharing content and collaboration capabilities, but it does not have the advanced functionality. Firmex helps streamline complex business processes and is utilized by large companies. Firmex’s customized pricing, scalable software lets you see your data in real-time.
Docully Citrix ShareFile and HelpRange are the other prominent virtual data room providers. HelpRange is ideal for freelancers and startups, with a free trial that lets you test the features before making a decision. Citrix ShareFile is a cloud-based solution that works well for small, mid, and large enterprises. It comes with advanced features and an extensive set of features with multiple integrations, role-based Q&A and secure messaging. This VDR is also HIPAA-compliant, with built-in support for HIPAA and a secure web client. This VDR is perfect for companies that need to share sensitive data, such as biotech & pharmaceuticals and healthcare.
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