Investors will often ask for the complete set of documents, including financial metrics, prior to committing to funding. Having these documents organized in an online virtual data room helps startups simplify due diligence and impress investors. The market for digital data rooms that cater to investors is very competitive, and it can be a challenge to choose the right software. This article reviews a few of the most popular options and provides tips on how to select one that is suitable for your needs.
In addition to a tidy setup, you should look for an application that can be configured with individual settings and offers support around the clock. It is important to ensure that the VDR includes a QA function, which allows users to ask questions and receive answers. Some platforms also provide visual analytics that can aid with due diligence. The pricing structure must be clearly established, with options that include per-user, per-page and per-storage. Flat rate pricing is typically preferred by the majority of users, because it allows them to estimate their costs more accurately.
Firmex has been in the business of virtual data rooms for more than 12 years. They are known for their M&A solution however, they can be used for other projects. Their features include automatic indexing, secure document sharing, DRM and specific user permissions. They also have robust security measures, including two-factor authentication, customized NDAs and a selection of monitoring tools. They’re a great choice for large and small-sized businesses and offer a two-week free trial.
