There are a variety of data room services available today. It’s easy to be lured by low prices or a trial offer. But if you don’t do your homework you could end up with an VDR that doesn’t meet 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. A good way to find convenience features include support for a variety of file formats with an intuitive interface, as well as Drag & Drop file upload.
It is also important to determine if they provide a variety of security features, such as two-factor authentication, 256-bit SSL encryption and virus scanning. This way, you can be certain that your files aren’t in the hands of hackers and are reliably secured.
Virtual data rooms are offered for a variety of industries. However, some are more specialized. For instance, M&A virtual data rooms offer users tools to simplify the due diligence process and secure large-scale document sharing. They also typically have checklists and templates to simplify the process of negotiating deals for their users. Another industry that is commonly used is real estate, where the virtual data room is used to manage the whole due diligence process, as well as to securely exchange documents with a broad range of individuals.