There are a variety of data room providers on the market today. It’s easy to get carried away by low pricing plans, or the enticement of a free trial however, if you don’t take the time to study the various options, you could be stuck with an VDR that isn’t the best fit for your requirements.
Support is also crucial. Make sure that they offer at least a minimal response time, 24/7/365 availability and single-point-of-contact resolution, as well as a knowledge base and free access to an online demo. A good way to find convenience features include a broad support for various file formats, an intuitive interface and Drag & Drop file upload.
Find out if the company provides various security measures, such as two-factor authentication and 256-bit SSL encryption. You can be sure that your documents won’t fall into the hands of hackers.
The majority of virtual data rooms cater to various industries, but certain ones are more specialized than others. M&A virtual rooms, for instance can provide tools to help streamline due diligence and protect large volumes of documents sharing. They also provide checklists and templates that help their users to simplify the deal-making processes. Real estate is a different sector where virtual data rooms are used to manage the entire due diligence and securely exchanging documents with multiple people.