Secure data rooms are a cloud-based solution that allows the secure sharing of confidential files and documents. They are used in the due diligence process in a deal and provide a wide range of features including advanced permissions, Q&A tool, notes and bookmarks with watermarking and multi-factor authentication to manage access and make sure that only authorized users access the data have access to it. They are accessible anywhere in the world using any device connected to the internet. This makes them especially useful for teams working remotely, at home or at the office.

Some “secure datarooms” make a big fuss about how secure their systems are with terms like’most secure virtual room’ or a ‘highly secure dataroom’. But in reality, these systems are no safer than programs like Dropbox or Google Drive that employ encryption to secure the data at rest, but do not erase temporary files after they’ve fulfilled their purpose. It’s like a food manufacturer focussing on the health benefits of their cereal bar is since it has zero fat whilst not bothering to mention that it is also 80% sugar or a housing developer who claims to have a fire certificate for their timber cladding, when the building is in fact 12 feet from the closest river.

Firmex VDRs are trusted by more than 120,000 companies for their vital processes in audits, deals and litigation and procurement projects with billions of dollars at stake. Contact us today to find out more about our Virtual Data Rooms and how they can help your business.

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