Virtual data rooms have become a vital tool in M&A transactions, IPO releases, fundraising by startups and due diligence processes. They make sharing documents faster and more secure and also help to ensure the compliance of regulatory authorities. Selecting a VDR provider requires thorough research and evaluation. Software review platforms such as Capterra and Trustpilot can be a great starting point. However, it is important to go through reviews from other third parties.
In addition to a standard user interface, the most effective virtual data rooms come with features that help simplify and streamline operations for everyone in the organization. This includes a graphical user interface that is customizable with a custom logo, a single sign-on for all projects, and an easy-to-navigate file structure that works across the most popular devices. Find VDRs that come with 8 levels of document rights as well as the ability to grant 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 has a variety of contact channels, including live chat and phone. It is also important to determine whether they can translate their support into your local language. Additionally, the top virtual data room providers have a seamless integration with storage platforms and provide an opportunity to try their software for free for up to 30 days. This lets you test out the software before making a final decision about its suitability for a particular project.