Choosing a virtual data room provider isn’t an easy task. There are numerous vendors offering various pricing and features. Some of the differences are minor but virtual data room use cases others can affect the success of your project.
Consider, for instance, the ability of a company to provide support. If you need to solve an urgent issue, you want to be sure you can connect with an immediate person and receive prompt, helpful assistance. You should also make sure that the vendor provides complete reports and data analysis to provide you with a complete understanding of the document’s activity.
Another thing to look out for is a user-friendly interface as well as advanced security features. You should ensure that you have granular user, group and document permissions and restrict access to documents even if they’re downloaded to devices owned by users. Make sure the vendor offers dynamic watermarks, IP lock, and the ability to block access to documents remotely, even if the documents are already on the device.
One last important aspect to consider is a company that is suitable for your industry and type of project. For instance, M&A virtual data rooms provide a variety of features to streamline due diligence procedures and ease deal-making. Real estate virtual datarooms, in contrast are designed to meet the unique requirements of file compatibility of real estate buyers or sellers. Many real estate VDRs offer templates and checklists to aid users in their due diligence process.
