Virtual Data Room Providers Comparison
Virtual data rooms facilitate due diligence and M&A procedures, making them a requirement for businesses across all sectors. The best VDR providers provide a wide range of features tailored to different types of businesses and projects. Some of these features might be common to all online repositories whereas others could be more sophisticated and cost more. In this article, we will compare the capabilities of a handful of the most popular platforms.
The first step to choose the right virtual data room is to figure out your business needs. Apart from ensuring that the platform supports all the formats that you require take into consideration whether it provides additional security features such as fence view and remote wipe. Also, take a look at the number of users allowed as some companies restrict access to specific folders or files, which could be problematic when you’re dealing with large transactions.
Check to see if the vendor provides assistance 24/7. Some of the top vendors have live customer support representatives who can assist you with any problems that might arise. Also, make sure to read independent reviews (G2 Crowd or Capterra are two excellent examples) and ask the vendor if they have trial periods or a free trial.
Review pricing plans. Some providers offer plans based on storage capacity, which is ideal for businesses that upload only small amounts of documents. Others offer a per-user www.virtualdatabase.info/10-virtual-data-storage-pitfalls/ price model, which is ideal for smaller businesses and shorter-term projects. Consider also whether the provider has servers located near your area. This could improve the performance and speed of data processing.
