Investors often require access to a comprehensive set of documents and financial metrics prior to committing funds. These materials can be organized in a virtual data room online to help startups improve their due diligence and impress investors. However, the market for data rooms for investors is competitive, and it can be difficult to find the best software. This article outlines some of the most popular options and provides tips on how to pick one that meets your needs.
In addition to having a simple setup, you should look for an option that permits custom settings and provides support around the clock. You should ensure that the VDR includes a QA function, which allows users to ask questions and get answers. Certain platforms provide visual analytics that are useful in due diligence. The pricing structure must be clearly established, with options that include per-user, per page, and per-storage. The majority of users prefer flat rate pricing as it helps them better forecast their costs.
Firmex is a leading virtual data room service that has been in operation for more than 12 years. They are renowned for their M&A solutions, but can be used for a variety of other projects too. Their features include automatic indexing and secure document sharing DRM, and granular user permissions. They also have robust security measures, including two-factor authentication, customized NDAs and a selection of monitoring tools. They’re a great option for small and large businesses and offer a two-week trial free of charge.