Free Data Room Services – Are They a Good Option For M&A?
It is impossible to comprehend all the details of M&A in a single glance since there are tens of thousands of documents. In order to make informed decisions regarding M&As or tenders, or capital raising, it is essential for businesses and investors alike to be able review all of the available information. It can be difficult to share the information in a safe and secure environment without data room services.
While free virtual data rooms are a great choice for small and medium-sized businesses however they are not suitable for larger enterprises. The free options are more sought-after targets for cybercriminals, and lack a host of advanced security features that paid VDRs offer. In 2019, misconfigured secure link settings exposed PII and non-public information and even employees of these businesses. The majority of free virtual data rooms do not offer advanced permissions for documents, which is essential for high-risk contracts.
FirmRoom, an online data room for M&As or other strategic transactions, is a popular alternative. They offer a free two-week trial and charge each project according to its requirements. The platform also offers features like drag and drop uploading, bulk upload of files and permissions settings. Moreover, it is ISO 27001, GDPR, and HIPAA certified and has an intuitive user interface. The platform also offers a variety of types of pricing plans including the Pro Plan with 1 project with 5 administrators and unlimited users.
