There are many data room companies on the market. It’s easy to be carried away by low pricing plans or the promise of a free trial but if you don’t take the time to study them properly, you may end up with a VDR that doesn’t meet your needs.
Support is also crucial. 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. Consider features that are convenient, like Drag & Drop upload, user-friendly interfaces, and support for a broad range of formats for files.
You should also check if they provide a variety of security features, such as two-factor authentication as well as secure 256-bit SSL encryption, and virus scanning. You can be assured that your documents will not be a target for hackers.
The majority of virtual data rooms serve different industries, however some are more specialized than others. M&A virtual rooms, for instance can provide tools to help streamline due diligence and protect large volumes of documents sharing. They also provide templates and checklists that assist their users to streamline the process of making deals. Real estate is another popular industry where virtual data rooms are used for managing the entire due diligence and securely exchanging documents with many people.
