Virtual data room has become a crucial tool in M&A transactions, IPO releases, fundraising by startups and due diligence procedures. They make sharing documents faster and more secure and can help ensure the compliance of regulatory authorities. Choosing the right VDR provider requires thorough research and evaluation. Review platforms for software like Capterra and Trustpilot are a great starting point. However, it’s crucial to look through reviews from third party sources.
Alongside a uniform user interface, the top virtual data rooms offer features that make it easier and more efficient to run processes for everyone within the company. This includes a re-usable interface with a custom logo, a single sign-on for all projects, and a file structure that is simple to navigate across all major devices. It is also essential to look for VDRs with flexible permission settings and eight levels of access rights to documents.
It is also important to consider the customer service provided by each provider of virtual data room. Pick a company that’s accessible 24/7 and has several contact channels like live chat and telephone. Check if they can translate support into your local language. Additionally, the ideal virtual data room providers provide a seamless integration with storage platforms, and offer a free trial period for up to 30 days. This lets you try out the software before making a decision about its suitability for a specific project.