It is not easy to choose a virtual dataroom service provider. There are numerous vendors offering different features and price models. Some of the differences are not significant, but others can affect the success of your project.
For example, it is important to evaluate a vendor’s support capabilities. You want to be aware that if you encounter an urgent issue you can speak to a live person and receive quick, helpful assistance. You should also ensure that the vendor has complete reports and data analytics which give you a complete understanding of document activity.
Another thing to look for is a user-friendly interface, as well as advanced security features. You should be able to assign user, group and document permissions and control access to documents even the users download them. Check if the vendor provides dynamic watermarks, IP lock, and the ability to block access to documents remotely even if those documents are already stored on the device.
Another thing to look for is a provider that is well-suited for your industry and project. M&A virtual rooms, for example, offer a variety of features that can help you streamline due diligence and facilitate deal-making. Virtual data rooms for real estate are, on the other hand, are designed to accommodate the particular requirements for compatibility between files of real estate buyers and sellers. Many real estate VDRs offer templates and checklists that aid users in their due diligence process.