When assessing potential virtual data room providers, go beyond the marketing glitz and glam. To get a clear picture of the provider’s performance review it from a variety of sources. This includes software important site review websites, user feedback and other review sites. Compare pricing plans and ensure they’re within your budget. Also consider the level of support that is available 24/7 and which channels (email and phone tend to be faster than chat).
After you’ve identified all the important features you need for your project, look for a vendor that supports those functions. If you’re sharing documents with a lot of people, you should look for features that make it easier to conduct your due diligence process. Other useful features include granular permissions for users as well as activity tracking and file tracking, as well as strong encryption of data.
A lot of data room providers have different pricing structure. Some charge per page, with additional pages requiring an overage. Some providers charge per GB with unlimited users. Others charge on a per-user basis with a set number of users included, and an additional cost for each additional user.
The most reliable providers of data rooms are those that offer excellent value for money. Avoid choosing providers who rely too much on gifts and drinks to impress their customers, as they will are likely to spend more time on these perks than in improving their product. Choose providers who are focused on delivering the quality and functionality you require to be successful in your M&A deal.
