The world of M&A requires sifting through hundreds opendataroom.net/virtual-data-room-due-diligence-focus-areas/ of thousands of documents, making it impossible to understand all the details at a single glance. To make informed decisions regarding M&As, tenders, or capital raising, it’s crucial for businesses and investors to be able to read all available information. However, sharing the information in a safe and controlled environment is difficult without data room services.

Free virtual data rooms may be a good choice for small and mid-sized companies but they’re not suitable for larger organizations. Cybercriminals are more likely to target free solutions, which lack the advanced security features of paid VDRs. For instance, Box, Dropbox, and Google Workspace all had PII as well as non-public data exposed thanks to unconfigured secure links in 2019 (even employees of these companies were affected). In addition, most free data room providers do not permit advanced settings for document permissions which are vital in a high-stakes deal.

If you’re searching for a reliable online data room, FirmRoom is a popular choice for M&As and other strategic transactions. FirmRoom offers a free two-week trial and offer a quote for each project based on the specific requirements. The platform comes with additional features, including drag-and-drop uploading, bulk uploading and permissions settings. In addition, it’s ISO 27001, GDPR, and HIPAA compliant and boasts an user-friendly interface. The platform provides a range of pricing plans including the Pro Plan that includes 1 project, 5 admins, and unlimited users.