Investors usually require access to a comprehensive set of financial and legal documents before committing funding. The organization of these documents in an online virtual data room helps startups simplify due diligence and impress investors. The market for digital data rooms that cater to investors is highly competitive, and it isn’t easy to locate the best software. This article reviews the most popular choices and provides advice on selecting the right solution to satisfy your requirements.
Look for a platform that has clear and simple configurations that offer flexible settings and support round all hours of the day. It is also important to ensure that the VDR has a QA feature that allows users to ask questions and get answers. Some platforms also provide visual analytics, which can aid in due diligence. Pricing structure should be clearly defined, with options including per-user, per-page, and per-storage. Flat rate pricing is usually preferred by the majority of users since it allows them to forecast their costs more accurately.
Firmex has been in the business of virtual data rooms for more than 12 years. They’re known for their M&A solutions, but can be utilized in a variety of other projects too. They provide features such as automated indexing, secure document sharing, DRM and granular permissions for users. They have robust security features including two-factor authentication as well as customizable NDAs and range monitoring tools. They’re a good choice for large and small-sized businesses and offer a no-cost two-week trial.