There are many data room services on the market. It’s easy to get enticed by the low cost or a trial offer. But if you don’t do your research you could end up with a VDR which doesn’t meet your needs.
It is also essential to pay attention to 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. Look for features that make life easier like Drag & Drop upload, user-friendly interfaces, and support for a wide range of file formats.
Find out if the business offers a variety security measures such as two-factor authentication and 256-bit SSL encryption. This way you can be certain that your documents aren’t in the hands of hackers and are reliably secured.
The majority of virtual data rooms cater to different industries, however certain are more specific than others. For example, M&A virtual data rooms offer users tools to streamline the due diligence process as well as secure large-volume document sharing. These data rooms also have templates and checklists to help their users to simplify the deal-making processes. Another common industry is real estate, where the virtual data room can be used to manage the entire due diligence process, and to securely exchange documents with a wide variety of people.