It is impossible to grasp all the details of M&A in one glance, because there are tens or thousands of documents. Business owners and investors need be able review all the information available to make informed decisions about M&As or tenders. It isn’t easy to share the information in a safe and secure environment without data room facilities.
While free virtual data rooms are an excellent option for small and medium-sized businesses but they’re not suitable for larger enterprises. Free solutions are more popular with cybercriminals, and do not have the advanced security features that paid VDRs offer. In 2019, improperly configured secure link settings have exposed PII as well as non-public data and even employees of these companies. Additionally, many free data rooms do not allow for advanced document permission settings which are vital in a high-stakes deal.
If you’re searching for a reliable online data room, FirmRoom is a popular option for M&As and other strategic transactions. FirmRoom offers a free two-week trial and quote each project based on the specific requirements. The platform also offers features like drag and drop uploading, bulk upload of files and permissions settings. It is also HIPAA GDPR, HIPAA, and ISO 27001 compliant, and offers a user-friendly interface. The platform also provides a variety of types of pricing plans including the Pro Plan with 1 project 5 administrators, as well as unlimited users.