A virtual data room provider is file share software vital for M&A transactions because of the volumes of confidential files which need to be shared. Not all VDR providers offer the same features. Some are more expensive and offer different features and capabilities.
To choose the best virtual deal room, take into account the size of your project or transaction. If you’re dealing with large amounts of sensitive information, a more reputable and flexible VDR may be worth the additional cost. It is also worth looking at the security features of a VDR before making a decision. The most secure VDRs have features like two-factor authentication, granular access controls, and dynamic watermarking. Some VDRs include a built in document viewer that lets you review documents directly from the VDR.
Also, look for VDRs that support multi-project management. This lets you use the same VDR to manage multiple projects at the same time such as an M&A deal or capital-raising round. Certain VDRs also offer advanced analytics and reporting to keep track of the activities of users.
The final aspect to consider is the customer support. The top VDR providers provide support 24/7 that can be reached via live chat, phone, and email. Some also have self-service support centers and onboarding assistance to ensure a seamless project experience. Also, opt for a VDR that is fully compatible across all major operating systems, iOS, Android, Windows, and macOS. Also look through reviews (with a pinch of salt) and request a free trial to test the features.