How to Choose a Data Room Provider

Choosing a virtual data room service isn’t an easy task. There are numerous vendors offering different features and price models. There are some minor differences, but others can impact your project’s success.

Consider, for instance the ability of a company to provide assistance. If you have to solve an urgent issue you should be certain that you can contact a live person right away and get fast, professional assistance. You should also ensure that the vendor provides complete reports and data analytics that provide you an in-depth understanding of document activity.

A user-friendly interface and advanced security features is a different thing to look for. Make sure you can set an granular group, user, and document permissions. You can also manage how documents are accessed even when they’re downloaded to devices owned by users. Also, verify if the vendor has Homepage dynamic watermarks that lock to IP, and the ability to block access to documents remotely, even though they’re on a device.

Another important aspect to consider is a vendor that is best-suited to your industry and type of project. M&A virtual rooms, for example offer a variety of features that streamline due diligence and make it easier to negotiate deals. Virtual datarooms that specialize in real estate, in contrast are designed to meet the unique file compatibility requirements of real estate buyers and sellers. Many real estate VDRs provide checklists and templates that aid users with their due diligence process.