Online data rooms provide a secure, cloud-based service to share business documents with third-party. They are extremely popular in M&A where the due diligence involves large files and a lot of document scrutiny. They can also be used to raise funds, since they allow companies to safely communicate with potential investors. To find the best one for your requirements, look for a company that has an affordable pricing structure and advanced features.
Select a service that provides granular settings for user permissions to prevent sensitive data from being misused. Find tools that allow you to authenticate your identity and use two-step authentication. You can also take advantage of features that allow you to work with your team in the same virtual space. Some VDRs, for example, offer folder-level security and batch downloads as well as search capabilities to speed up the review process.
Some data room site here providers offer a trial period for free so you can see how their software performs before making a purchase. Others offer a monthly fixed cost, which allows you more flexibility for larger projects. Other options include a year-long subscription, which helps you budget more effectively and assures that you have the tools you require for your specific needs.
Customer support is a key factor to consider when comparing providers of online data rooms. The best ones have an account manager with a specific role with a live chat and phone line as well as a library with guides, and a robust set of training and documentation. They also have a simple interface that even the least tech-savvy user can easily adopt.