When choosing a virtual data room, businesses must consider the number of users that will be able to access the platform. Typically, vendors will provide some administrative users in their pricing plans while more users need additional charges. Additionally, they may offer options that enhance security and limit user activities such as multi-factor authentication or granular permissions. As a result, the more sophisticated features and enhanced security options will cost more money than basic VDRs.
Some providers offer flat-rate prices depending on storage capacity. They are perfect for businesses that heavily rely on text documents, and aren’t able to work with video or audio files. This type of system has the disadvantage of not allowing for unlimited storage or file uploads.
Other providers cost based on the number of megabytes uploaded to their platform. While this may be less expensive than flat-rate pricing models, it can cause users overspend on storage space. If you upload too many files your service will ask you to reduce how much information is stored.
M&A teams need a secure and reliable platform to share sensitive information with their partners and clients. FirmRoom has a number of features that make this an ideal option for M&A. The platform allows drag and drop uploading, intelligent indexing and in-platform access to ensure that confidential documents from deals remain safe and organized. It also has an audit trail that allows you to data room services for business track who downloaded, viewed and edited which documents. This feature is highly valued among managers and investment bankers of private equity firms who need to examine documents and understand the full scope and extent of changes to documents.