There are many data room providers available today. It is easy to get carried away by low pricing plans or the promise of a free trial however, if you don’t take the time to research the various options, you could end up with an VDR that isn’t the best fit for your requirements.
Support is equally important. Make sure that they offer at least a minimal response time, 24/7/365 availability and single-point-of-contact resolution, as well as a knowledge base and free access to an online demo. Find features that facilitate your work like Drag & Drop upload, user-friendly interfaces, and support for a range of file formats.
Make sure the company offers a variety of security measures such as two-factor authentication, for instance, and 256-bit SSL encryption. You can be confident that your data will not fall into the hands of hackers.
The majority of virtual data rooms serve different industries, however some are more specialized than others. For instance, M&A virtual data rooms offer users tools that can streamline the due diligence process and ensure large-volume document sharing. These data rooms also include checklists and templates that help their users streamline the process of negotiating deals. Real estate is another popular sector where virtual data rooms are used to manage the entire due diligence process, and also for securely sharing documents with many people.