It is not easy to select a virtual dataroom provider. There are a variety of vendors, each offering various features and pricing plans. Some of the differences are not significant, however others can make a huge difference to the success of your project.

For instance, it’s crucial to take into consideration the support capabilities of a vendor. You need to be aware that in the event of an urgent issue you can talk to a live person and get quick, efficient assistance. Also, make sure the vendor provides extensive reports and data analytics that provide you a complete knowledge of the document’s activity.

Another thing to look out for is a user-friendly interface and advanced security features. You will be able to set users, groups and document permissions and control the access to documents, even the users download them. Verify if the vendor has dynamic watermarks, IP lock, and the ability to deny access to documents remotely, even if those documents are already on the device.

Another factor to consider is a vendor appropriate for your industry and project. For instance, M&A virtual data rooms offer a wide range of options to simplify due diligence processes and facilitate the process of making deals. Virtual datarooms for real estate however are designed to meet the specific requirements for compatibility of files of real estate buyers and sellers. This is the reason why many real estate VDRs feature templates and checklists to help users with their due diligence processes.

click to read more