The world of M&A requires sifting through tens of thousands of documents, which makes it difficult to comprehend all the details in just one glance. Investors and businesses need to be able review all the information available to make informed decisions regarding M&As or tenders. However sharing this information in a secure and controlled setting can be difficult without data room services.
While free virtual data rooms are an excellent choice for small and medium-sized businesses, they are not ideal for larger businesses. Free solutions are more popular with cybercriminals, and are not equipped with the advanced security features that paid VDRs offer. In 2019, improperly configured secure link settings were exposed to PII as well as non-public data and even employees of these businesses. Most free virtual data rooms do not offer advanced permissions for documents, which is essential for high-risk contracts.
FirmRoom, a reliable online data room for M&As or other strategic transactions, is a popular alternative. They offer a free two-week trial and price each project according to the specific requirements of the project. The platform also includes features like drag and drop uploading, bulk upload of files as well as permission settings. It is also HIPAA GDPR, HIPAA, and ISO 27001 compliant, and has an intuitive interface. The platform also offers a variety of types of pricing plans including a Pro Plan with 1 project five administrators, and unlimited users.
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