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What digital data room or platform do you recommend when conducting due diligence and why? We are researching various companies – all of which have different pros and cons, but none have surfaced as a clear winner.
I have used only intralinks so far as well. However, I strongly believe that it is currently possible to set up the place to exchange documents on in-house One Drive, which allows external partied to have an access to. However, the most important thing we need to consider is confidentiality, so from that perspective, in order to mitigate any possible risks, it might be still better to use a professional company to manage the data related to a deal.
In have used intralinks and also other platforms. I can highly recomment Datasite as this is the best platform I have seen so far on the market. I see some key advantages of the platform:
1) Enhanced collaboration and communication: The platform provides a secure and centralized environment for stakeholders to collaborate, share documents, and communicate in real-time, improving efficiency and reducing deal cycle times. Also a mobile phone app is available.
2) Advanced due diligence capabilities: Datasite’s platform offers robust due diligence features, such as advanced search functionalities, document indexing, and data analytics, enabling faster and more accurate decision-making during the due diligence process.
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