Free file-sharing programs like Google Drive or Dropbox are good for sharing files in small groups www.dataroomanalytics.net/driving-success-in-ma-the-key-advantages-of-using-a-virtual-data-room-for-deal-room-management/ but they do not provide the same level of security as data rooms do. The truth is that they do not have the permissions settings or auditing capabilities, as well as watermarking, and other features that you require when sharing sensitive business documents. This is a serious issue, particularly during M&A transactions where a single leak could cost the deal and the image of your business.
If you're looking to safeguard your confidential documents, you need to choose an authentic virtual data room (VDR). Firmex provides solutions for investment banking, biotech government, energy, and legal industries, and is one of the most popular platforms in its field. It employs multi-layered data encryption to transfer and store information, and has multiple servers in different locations to ensure disaster recovery. It also offers document control and DRM, such as dynamic watermarks, lock-down of files and document expire to prevent data breaches.
Another excellent VDR is Box Cloud Storage, a cloud-based solution that can be used for bidding, M&A, and contract negotiations. It has bank-level encryption in transit and when the data is in the storage. You can also personalize your data room with your own branding. It also offers high-quality previews for 30+ types of files and extensive activity tracking. It also has a variety of ways to share content.