There are many data rooms providers on the market today. It’s easy to get attracted by cheap pricing plans, or the enticement of a trial offer, but if you don’t take the time to look into the various options, you could find yourself stuck with an VDR which doesn’t fit your requirements.
It is also important to pay attention to support. 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. Convenience features to look for include a wide range of file formats support as well as a user-friendly interface. Drag & Drop file upload.
Also, make sure that they offer a range of security measures, such as two-factor authentication and the 256-bit SSL encryption and virus scanning. You can be confident that your files will not fall into the hands of hackers.
Virtual data rooms are offered for a range of industries. However, some are more specialized. M&A virtual rooms, for instance have tools that can help you streamline due diligence and ensure large-volume documents sharing. They also often have templates and checklists that simplify the process of making deals for their users. Another industry that is commonly used is real estate, where the virtual data room can be utilized to manage the entire due diligence process, as well as to securely transfer documents to a wide range of people.