There are many data room services available today. It is easy to get carried away by low pricing plans, or the enticement of a free trial, but if your don’t take the time to study the various options, you could find yourself stuck with an VDR that doesn’t really fit your requirements.
Support is also essential. Make sure that they offer at least a minimal response time, 24/7/365 availability and single-point-of-contact resolution, as well as a knowledge base and free access to an online demo. The most convenient features to look out for include a broad support for various file formats, an intuitive interface and Drag & Drop file upload.
It is also important to determine if they provide a variety of security features, such as two-factor authentication as well as 256-bit SSL encryption, and Bonuses virus scanning. You can be confident that your documents won’t be in the hands of hackers.
The majority of virtual data rooms are geared towards different industries, however certain ones are more focused than others. For example, M&A virtual data rooms offer users tools to help streamline the due diligence process and secure large-volume document sharing. They also provide templates and checklists that assist their users to simplify the process of making deals. Real estate is a similar sector where virtual data rooms can be used for managing the entire due diligence and securely exchanging documents with multiple people.
