Virtual data rooms have become a key tool in M&A transactions, IPO releases, fundraising by startups and due diligence processes. They help to ensure regulatory compliance and allow document sharing to be more efficient and more secure. It is important to do thorough research and evaluation before selecting the right VDR. Review platforms like Capterra and Trustpilot are a good place to start, however it is also important to read third-party reviews from acquaintances and colleagues.
In addition to a standard user interface, the best virtual data rooms provide features that streamline and simplify operations for everyone in the company. This includes a custom-designed UI with a personal branding as well as a single sign-on system for all projects, and a simple-to-use file structure that works across the most popular devices. It is also essential to look for VDRs with flexible permission settings and eight levels of document access rights.
When choosing a virtual data room, it’s important to look at the quality of customer service offered by each service. Select a company that is accessible 24/7 and has various contact options, including live chat and phone. Find out if they translate support into your local language. 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 a more informed decision on its suitability for your specific project.