A secure data room for businesses is a cloud-based service specifically designed to secure sharing of confidential business documents and files. They are used during the due diligence phase of the process of negotiating. They offer a variety of features, including advanced permissions and Q&A tools, notes and bookmarks and multi-factor authentication. They can be accessed anyplace in the world via 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 have a huge song and dance about how secure their system is using phrases like ‘the most secure virtual data room’ or a highly secure data room’, but the truth is that these systems are no more secure than tools like Dropbox or Google Drive that use encryption to safeguard data in transit and don’t ensure that temporary files will be deleted after they’ve served their purpose. It’s like a company that makes food insisting on how healthy their cereal bar is because it’s low in fat whilst not bothering to mention that it’s also 80 sugar free or a residential developer claiming a fire certificate for their timber cladding, when the building is actually 12 feet from the closest river.
Firmex VDRs are regarded as a trusted service by more than 120,000 companies for their mission-critical processes vdrlabs.info/3-key-components-of-an-investment-pitch-deck-that-every-entrepreneur-should-have/ in deals, audits and litigation, as well as procurement projects, with billions of dollars at stake. Contact us today to learn more about our Virtual Data Rooms and how they could benefit your business.