Virtual data rooms facilitate due diligence and M&A processes which makes them essential for business in almost all sectors. The top VDR providers offer a variety of features that can be tailored to specific projects and companies. Some of these features could be common to all online repositories whereas others may be more advanced and cost more. In this article, we review some of the most well-respected platforms and then compare their features.
The first step in choosing a virtual data space is to identify your company’s requirements. Aside from ensuring that the platform is compatible with all formats of your files, consider whether it offers extra security measures like fence view and remote wipe. Also, look into the number of users that can be allowed since some vendors restrict user access to specific folders or documents, which can be problematic if you’re dealing with large transactions.
Find out if the vendor offers support around-the-clock. Some of the best vendors have live customer support agents who are able to assist you with any problems that might arise. Also, look up independent reviews (G2 Crowd or Capterra are two good examples) and ask the vendor if they have an open demo or a free trial.
Review pricing plans. Some providers offer plans based on document storage capacity, which is ideal for businesses that upload only small quantities of documents. Some providers offer a pricing model dependent on the number of users that is suitable for small-sized businesses and small-scale projects. Consider also whether the provider’s servers are located near to your place of business in order to boost performance and speed of processing data.
www.virtualdatabase.info/venue-vdr-pros-and-cons/