Comparing Virtual Data Rooms
Despite being extremely valuable, not all virtual data rooms are made equal. Some virtual data rooms are designed to cater to specific types of transactions or industries like M&A due-diligence, while others provide a variety of tools that can help companies collaborate on a variety of projects. Consider what you want to accomplish using the virtual data room, the norms of your industry, and the kind of files that you will be sharing.
When browsing VDR providers, look for a user-friendly interface and how simple it is to use on any device. If you’re planning to use it with colleagues who aren’t tech-savvy ensure that the vendor has features like drag and drop uploads and automatic indexing to accelerate the process of filling up the VDR. Be sure to inquire if the vendor offers 24/7 customer support and assistance in a variety of languages.
When comparing virtual datarooms, you should consider whether the security measures are up to the standards you expect. Choose a provider that offers multiple layers of security https://digitaldataroom.org/restoring-accidentally-deleted-documents-or-requests-in-a-data-room/ to protect your documents like SmartLock which allows you to revoke access to documents after downloading, integrated redaction and DocuSign integration.
When you look through providers choose a pricing plan that is suitable for your needs. Some providers charge flat charges for administrators or for quests, while others charge based on the size of storage, with overage fees. Find a vendor that provides free trial and demos so you can test out the platform to determine if it’s the right choice for your project.
