Data room tools recommended by the community
Other tools mentioned once or twice include:
efileCabinet, Google Drive, eRoom, Opentext, SharePoint, Box, Citrix, Deal Room, Client Access, Sharefile, Salesforce, P Cloud, DocSend, Ansarada, MS Teams, BCMS
- Utilize tools to restrict the most sensitive information to “view only” — no printing or downloading. Remember, there is no requirement to put information in a data room, and sometimes the best way to share information is in-person
- Review usage metrics daily to ensure other party(ies) are keeping their commitments, and real deal work is occurring. Look for signs of inappropriate user id/password sharing as well – eg, one user has connected from 10 different devices
- Due diligence questions and answers should be logged carefully – include keywords, topics, whatever is meaningful in a data field so that they can be searched before potentially answering the same question(s) twice.