A secure data room for business is a cloud service specifically designed for secure sharing of confidential business documents and files. They are used to aid in the due diligence process of a deal and provide various features including advanced permissions, Q&A tool, notes and bookmarks as well as multi-factor authentication to restrict access and ensure that only authorized individuals to access the information are able to are able to access the information. They can be accessed anywhere on the planet from any device connected to the internet making them particularly useful for teams working remotely from home, at work or on the go.
Secure data rooms make a big song and dance about how secure their system is using phrases like ‘the most secure virtual data room’ or a ‘highly secure data room’ however the reality is that these systems are no more secure than tools like Dropbox or Google Drive which rely on encryption to safeguard data in the cloud and do not guarantee that temporary files are deleted once they’ve fulfilled their purpose. It’s like a company that makes food focussing on how healthy their cereal bar is since it contains 0% fat without mentioning that it’s also 80% sugar or a housing developer claiming to have a fire certificate for their timber cladding even though the building is actually only 12 feet from the nearest river.
Firmex VDRs are simple to use, cost-effective and backed by 24/7 customer support and have been embraced by more than 120,000 vdrlabs.info/3-key-components-of-an-investment-pitch-deck-that-every-entrepreneur-should-have/ companies to run critical processes in deals as well as audits, litigation and procurement projects with billions of dollars at stake. Learn more about how our Virtual Data Rooms can benefit your business by getting in touch now.