Free file-sharing programs like Google Drive or Dropbox are good for sharing files in small groups but they don’t provide the same level security that data rooms provide. The truth is that they don’t have permission settings or auditing capabilities, as well as watermarking, or other features that are required when you transfer sensitive documents for business. This is a huge issue especially during M&A processes, where a single leak can be very costly for the deal and see this website for your company’s reputation.

You must make use of a virtual data room to safeguard your private information. Firmex is a trusted platform that provides solutions to the government, investment banking, biotech, energy, and legal industries. Firmex employs multi-layered encryption for transferring and storing information and has multiple servers in various locations to ensure disaster recovery. It also offers document control and DRM, such as dynamic watermarks, lock-down files and expiration dates to protect against data breaches.

Box is another good VDR. It’s cloud-based storage which supports M&A and contract negotiations. It is able to provide bank-level security both during transit and while the data is in storage. You can also customize your data room to reflect your own branding. It also offers high-quality previews for 30+ kinds of files, and a robust activity tracking. It also comes with a wide array of integrations to make it easier to share content with colleagues.