About Data Room Vendors
Look for vendors who provide clear pricing on their websites when evaluating their services. This includes the cost of user licenses (user/guest rates), storage (volume-based or overage charges) and the breakdown of what features are included or not included in their base plan.
Also, ensure that they provide the opportunity to try their platform for a trial period. This allows you to test out the platform without any commitment to purchase, and also ensures it is suited to your needs.
Some VDR providers specialize in one particular sector or type of deal. Some VDR providers provide solutions for M&A due-diligence, whereas others are targeted at private equity and law firms. Some of them offer a complete solution for corporate development. Some also provide a range of tools to help with fundraising.
A reputable VDR will also come with a range of permission settings that improve collaboration and data security. For instance, some allow users to set specific viewing rights, while others restrict printing or downloading documents. Some will also offer group rights settings that simplify granting access to multiple users at a single click. Furthermore, a good virtual data room will provide real-time statistics on the way users interact with documents within the platform. This will allow for greater transparency, oversight and accountability. Lastly, it is best to find a company that offers APIs and integrations that allow users to personalize their workflows and automate follow up tasks. This helps simplify your project and eliminates manual work.