Choosing a Virtual Data Room

Virtual data rooms have become an essential tool in M&A transactions, IPO releases, fundraising by startups, and due diligence processes. They assist in ensuring compliance with regulations and help allow document sharing to be more efficient and more secure. Choosing a VDR provider requires a thorough study and evaluation. Software review platforms such as Capterra and Trustpilot are a good place to start, but it is also important to read third-party reviews written by acquaintances and colleagues.

In addition to a standard user interface, the top virtual data rooms provide features that help simplify and streamline operations for everyone in the company. This includes a re-usable interface with a custom logo, a single sign-on for all projects, and a structure for files that is easy to navigate on every device. You should look for VDRs that come with 8 levels of document rights as well as the ability to grant granular permissions.

When choosing a virtual data room, it’s also important to consider the level of customer support provided by each service. Pick a company that’s available 24/7, and offers numerous contact channels, including live chat and phone. Check if they can translate support into your local tongue. Additionally, the ideal virtual data room providers provide a seamless integration with storage platforms, and offer an opportunity to try their software for free for up to 30 days. This lets you try out the software before making a final decision about the suitability of it for a particular project.