Virtual data rooms have become a key tool in M&A transactions, IPO releases, fundraising by startups and due diligence procedures. They make sharing documents faster and more secure and aid in ensuring compliance with regulatory requirements. The selection of the right VDR provider requires careful research and evaluation. Review platforms like Capterra and Trustpilot are a good place to begin, but it is equally important to read third-party reviews written by colleagues and acquaintances.
In addition to a standard user interface, the best virtual data rooms provide features that help simplify and streamline processes for everyone within the company. This includes a customizable UI that can be customized with branding and a single sign-on option for all projects, and a simple-to-use data structure that works across the most popular devices. Find VDRs that come with 8 levels of document rights and more granular permissions.
It’s important to also consider the customer support offered by each provider of virtual data room. You should look for a support team who is accessible 24/7 and provides several contact channels including live chat as well as phone. Make sure they are able to translate support into your native tongue. Additionally, the ideal virtual data rooms have seamless integration with storage platforms and provide the opportunity to trial their services for free for up to 30 days. This lets you try the software prior to making a decision about its suitability for a specific project.