Online data rooms provide a secure, cloud-based service for sharing documents for business with third party. They are extremely popular in M&A where the due diligence requires large documents and lots of scrutiny of documents. They can also be used to raise funds, since they allow companies to securely share information with potential investors. Find a service that offers flexible pricing structures and advanced features to choose the best one for you.
Choose a provider that offers specific user permission settings to ensure that sensitive information is not being misused by a third party. Be sure to look for two-step authentication and identity verification tools as well. You can also take advantage of features that allow you to work with your colleagues in the same virtual space. Certain VDRs, like provide security for folders as well as batch downloads and search functions to make reviewing faster.
Some data room providers online provide a free trial to check out the software before you purchase. Some also offer a monthly flat price, which provides more flexibility for larger projects. Other options include a yearly subscription, which allows you to budget more effectively and guarantees that you have the tools you require when you need them.
Customer support is a key aspect to take into account when comparing online data rooms. The best ones have a dedicated account manager with a live chat and phone line as well as a library of guides, and a robust set of training and documentation. They also have an easy interface that even the most technologically proficient user can easily learn to use.