Choosing a virtual data room provider isn’t an easy task. There is a wide range of vendors, each offering various pricing and features. Some of the differences are minor but others can have a major impact on the success of your project.
For instance, it’s important to evaluate the support capabilities of a vendor. If you need to resolve an urgent problem it is important to be sure you can connect with an individual immediately and receive prompt, helpful assistance. You should also ensure that the vendor has detailed reports and data analysis to provide you with a comprehensive understanding of the document’s activity.
Another thing to look for is a user-friendly interface as well as advanced security features. You must be able set the user, group and document permissions and control access to documents, even when users download them. Find out if the vendor offers dynamic watermarks, IP lock, and the ability to revoke access to documents remotely, even if those documents are already on the device.
The last thing you need to be looking for is a vendor who is suitable for your particular industry and type of project. M&A virtual rooms, for instance, offer a variety of features that streamline due diligence and facilitate deal-making. Virtual datarooms for real estate, on the contrary are created to meet the specific requirements for compatibility of files of real estate buyers and sellers. This is why many real estate VDRs come with checklists and templates to assist users with their due diligence procedures.