Step 1: Make an outline of the criteria you’d like to fulfill for your ideal vdr.
Determine your key tasks and needs when working with data, and then choose a virtual data room application that meets the requirements. If you’re looking for the virtual data room to facilitate a due diligence process in M&A for instance you should choose a program that has extensive features like document management, collaboration and security.
Once you’ve come up with your list of criteria, conduct research on different platforms on review websites like Capterra or G2. Review user reviews from similar industries and with similar use scenarios similar that are similar to your own. Consider how the platform’s integration features can help improve your workflow.
Then, compare the cost structures of different providers. You can avoid unexpected costs by selecting providers with fixed monthly rates. Make sure the vendor has a support team that is available when needed. This includes their response time as well as whether they provide support via live chat, phone, or email support.
Once you’ve narrowed the list down, you can test them with a trial offer. Pay attention to the user-friendliness of the software, its interface and the ease of use. Check for features like redactions, emailed uploads, and buyer-management tools. Finally, make sure the vendor has a range of security measures and abides by the most prestigious certifications. This includes multi-factor verification and secure backup, storage and multiple data centres that are located in different places.
https://virtual-datarooms.org/intralinks-dealspace-detailed-review