A virtual dataroom could be an extremely useful tool for certain industries and businesses while it’s an essential tool for others. Choosing the right one can speed up a deal and make all parties involved happy during the process. If you’re planning to pick the best virtual space ensure that it is modern and has an intuitive interface and lets users control access to documents. Also, find out if the vendor is able to track and convert data room activity into reports to facilitate project management.

M&A professionals need professionals working in M&A need a VDR that can provide secure storage of large quantities of data. It should also be able to support different file formats and permit multiple users to access files at the same time. M&A platforms that provide customizable workspaces, secure audit logs as well as robust digital rights management (DRM) and detailed insight dashboards that facilitate seamless due diligence and post-transaction integration.

Consultancy firms require a platform that allows them to share their work with partners, clients, and other stakeholders. They also need to ensure that their files are protected to avoid losing work or having it stolen by hackers. A safe and secure virtual data room that due diligence data room has a simple and intuitive interface can help them deliver quality projects on time and within budget.

Startups generally have limited IT resources, and they require a virtual data room which is easily configured and has a shorter adoption curve. Firmex is one example of an VDR that can meet these requirements. It streamlines the process of communication and workflow it provides a sophisticated and user-friendly interface. It supports more than 25 file formats, features AES256 encryption and two-factor authentication, and provides the opportunity to test it for free, without any commitments.