Virtual data room has become an essential tool in M&A transactions, IPO releases, fundraising by startups and due diligence procedures. They make document sharing more secure and quicker, and help ensure the compliance of regulatory authorities. Making the right choice for the right VDR provider requires careful research and evaluation. Software review platforms such as Capterra and Trustpilot can be a great place to start. However, it’s essential to read reviews from third parties.
Alongside a uniform user interface, the best virtual data rooms offer features that make it easier and more efficient to run operations for everyone in the company. This includes a customizable UI with a personal branding, a single sign-on for all projects, and a simple-to-use file structure that is compatible with all various devices. It’s also important to look for VDRs with permissions that are granular and 8 levels of document access rights.
When choosing a data room, it’s also important to think about the quality of customer support provided by each provider. You should look for a support team who is available 24/7 and offers various channels for contact such as live chat and phone. It is also important to determine whether they can translate their support into your local language. The best virtual data room provider will also be able to seamlessly integrate with storage platforms, and offer a free 30-day trial. This allows you to test the software before making a decision on its suitability for a specific project.