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 more secure and faster and also help to ensure the compliance of regulatory authorities. Selecting a VDR service requires thorough research and evaluation. Review platforms for software like Capterra and Trustpilot are a good place to start. However, it is essential to read reviews from third parties.
In addition to a standardized user interface, the best virtual data rooms have features that help simplify and streamline operations for everyone in the company. This includes a user interface that can be customized with custom branding, single sign-on for all projects, and a structure for files that is simple to navigate on all major devices. It’s also important to look for VDRs with granular permission settings and 8 levels of document access rights.
It’s important to also consider the customer service offered by each virtual data room provider. Choose a team who is accessible 24/7 and has numerous contact channels, including live chat and phone. It’s also helpful to know whether they’re able translate their support into your local language. Additionally, the ideal virtual data room providers have a seamless integration with storage platforms and provide an initial trial period of up to 30 days. This lets you test the software before making a decision about the suitability of it for a particular project.