About Data Room Vendors
Make sure you choose vendors that provide transparent pricing on their websites when you are evaluating their services. This includes the cost of user licenses (user/guest rates) and storage (volume-based, overage fees) and a breakdown of which features are included or not in their base plan.
Make sure that they offer a free trial period. This allows you to test the platform without committing to a financial investment and ensures that it is in line with your requirements.
Some VDR providers specialize in a specific field or type of transaction. For instance, some provide solutions to assist with M&A due diligence while others focus on assisting law firms and private equity. Some also provide a one-stop shop for corporate development. Some also offer a variety of tools for fundraising.
A good VDR comes with a variety permission settings to improve collaboration and data safety. For instance, some will permit users to set granular viewing permissions, while others limit printing or downloading documents. Furthermore, some will provide group rights settings that facilitate accessing multiple users with a single click. A good virtual data room provides real-time statistics of the way users interact with the platform. This allows for greater oversight and enhances transparency and accountability. In the end, it is recommended to look for a provider that has APIs and integrations that enable you to modify your workflow and automate follow-up tasks. This helps simplify your project and eliminates manual tasks.