Data room tools recommended by the community

Blog

A few weeks ago I asked the community for recommended M&A data room tools.  The most frequently recommended tools were:
iDeals Virtual Data Rooms 
Firmex
Intralinks
Deal Room
Merrill Datasite

Other tools mentioned once or twice include:
efileCabinetGoogle DriveeRoomOpentextSharePointBoxCitrixDeal RoomClient AccessSharefileSalesforceP CloudDocSendAnsaradaMS TeamsBCMS

Additional Tips:

  • 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.