It is important to be familiar with all aspects of the transactions your clients make. This includes their data room. If your client’s M&A transaction requires a VDR and a modern, user-friendly interface with granular document permissions and a solid support team can make or break their deal process.
You can find out more about the various providers by reading reviews on websites like Capterra and G2. Be wary of a provider that has a lot of 5-star reviews but only one of them is from one particular industry or use case.
When you do your research, you should look for transparent pricing. Verify that the plans are clearly explained and be aware of what features are included and those that aren’t. Insufficient transparency in pricing could result in unexpected charges down the line.
Look for a flexible VDR with a trial period. It is recommended to test the VDR out with your team to determine whether it’s a good choice before you decide to invest in it. Make sure to avoid a service that doesn’t offer a trial period as it will limit your ability to evaluate the product’s usability, features and performance in real-world conditions without spending.
Make sure to schedule demos after narrowing down your options of providers to get a feel of their customer service and platform. Be sure to take note of how responsive each one is and ask questions related to security, cost and scaling capabilities, integration capabilities and ease of use.
https://www.vdrguide.com/virtual-data-room-providers-and-their-influence
