There are many data rooms providers on the market today. It is easy see it here to get caught up in the low-cost plans, or the lure of a free trial but if you don’t take the time to research them thoroughly, you could find yourself stuck with an VDR which doesn’t fit your requirements.
It is also essential to pay attention to the support. 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 such as Drag & Drop upload, intuitive interfaces, and support for a range of file formats.
Also, make sure that they offer a range of security measures, including two-factor authentication and 256-bit SSL encryption, and virus scanning. You can be assured that your documents will not be a target for hackers.
Virtual data rooms are available for a variety of industries. However, some are more specialized. M&A virtual rooms, for example have tools that can help you streamline due diligence and ensure large-volume documents sharing. They also typically have checklists and templates that can simplify the deal-making process for their users. Another industry that is commonly used is real estate, where the virtual data room is used to oversee the entire due diligence process, and to securely exchange documents with a large range of individuals.