Free file-sharing apps like Google Drive or Dropbox are great for sharing files in small groups but they don’t offer the same level of security data rooms do. They don’t have the features required to transfer sensitive documents used in business, including auditing, watermarking and permission settings. This is a huge issue especially during M&A processes when a single leak can be very costly for the deal as well as your company’s reputation.

If you’re looking for a way to secure your private data then you should choose a reliable virtual data room (VDR). Firmex offers solutions for the investment banking biotech, government, energy and legal sectors, and is one of the most trusted platforms in its domain. It uses multi-layered encryption when storage and transfer of data, and has multiple server locations for disaster recovery. It also provides document control and DRM options, such as dynamic watermarks and lock-down files. Document expiration is also an option to protect against data breaches.

Another great VDR is Box which is a cloud storage solution that supports bidding, M&A, and contract negotiations. It offers bank-level encryption both during transit and in rest, and allows you to personalize the data room experience by adding your own branding. It also offers high-quality previews of 30+ file types and an extensive activity tracking. It also offers a variety of integrations that make it easy to share content.

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