Choosing a virtual data room provider is not a straightforward task. There are many vendors offering various pricing and features. Some differences are minor but others can have an impact on your project’s success.
For instance, it is crucial to take into consideration the capabilities of support offered by a vendor. If you need to solve an urgent problem, you want to be sure that you can reach a live person right away and receive fast, helpful assistance. Also, make sure the vendor has complete reports and data analytics that offer you an extensive understanding of document activity.
An intuitive interface with advanced security features is a different thing to look out for. Be sure to set users, groups and read this article document permissions. This will allow you to manage how documents are accessed even when they’re downloaded to devices of users. Also, check if the vendor provides dynamic watermarks, locks to IP and the capability to block access to documents remotely, even if they’re installed on a device.
The last thing you need to look for is a vendor that is suited to your industry and project type. M&A virtual rooms, for instance, offer a variety of features to streamline due diligence and facilitate deal-making. Virtual data rooms for real estate however are designed to meet the unique requirements for compatibility of files of real estate buyers and sellers. This is why many real estate VDRs include checklists and templates to assist users in their due diligence processes.