Free file-sharing apps like Google Drive or Dropbox are good for sharing files in small groups, but they don’t offer the same level security that data rooms do. They don’t have the features you need to transfer sensitive documents for business, like auditing, watermarking and permission settings. This is a huge issue, particularly during M&A transactions when a single leak could cost the deal and also to your company’s image.
You need to use a virtual data room to secure your confidential data. Firmex provides solutions for investment banking biotech government, energy, and legal industries and is among the most known and trusted platforms in the field. 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, such as dynamic watermarks, lock-down files and expiration dates to protect against data breaches.
Another excellent VDR is Box, a cloud storage solution that can be used for bidding, M&A, and contract negotiations. It offers bank-level encryption both during transit and while the data is in storage. You can also personalize your data room with your own logo. It also provides high-quality previews of more than 30 types of files and an extensive activity tracking. It also comes with a wide variety of integrations to allow sharing of content with colleagues.
dataroomanalytics.net/how-does-a-digital-data-storage-work-and-which-features-to-consider/