Virtual data rooms have become an essential tool in M&A transactions, IPO releases, fundraising by startups, and due diligence processes. They make document sharing more secure and speedier and aid in ensuring compliance with regulations. Selecting the right VDR provider requires careful research and evaluation. Software review platforms such as Capterra and Trustpilot are a good place to start. However, it is important to look through reviews from third party sources.
Alongside a uniform user interface, the top virtual data rooms provide features that streamline and simplify processes for everyone within the organization. This includes a customizable UI with custom branding, a single sign-on for all projects, and an easy-to-use file structure that works across the most popular devices. It’s also important to search for VDRs with more flexible permission settings and eight levels of document access rights.
When choosing a virtual information room, it’s also important to take into consideration the level of customer support offered by each service. Find a support team that is accessible 24/7 and has various channels for contact including live chat and phone. Make sure they are able to translate support into your native tongue. The best virtual data room provider will also offer seamless integration with storage platforms, and offer a 30-day free trial. This allows you to test the software and make an informed decision regarding the suitability of the software for your specific project.