There are many data room providers available on the market. It’s easy to get attracted by cheap pricing plans, or the lure of a trial offer, but if you don’t spend the time to research the various options, you could end up with an VDR that doesn’t really fit your needs.
Support is also important. 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. Look for features that make life easier like Drag & Drop upload, intuitive interfaces, and support for a variety of formats.
Check if the company offers a variety security measures such as two-factor authentication, for instance, and 256-bit SSL encryption. You can rest assured that your documents will not get into the hands of hackers.
The majority of virtual data rooms serve various industries, but certain ones are more specialized than others. M&A virtual rooms, for instance have tools that can help you streamline due diligence and secure large-volume documents sharing. They often also include templates and checklists that simplify the process of making deals for their users. Another common industry is real estate, and the virtual data room is utilized to manage the entire due diligence process, and to securely exchange documents with a broad range of people.