It is essential to be familiar with all aspects of the transactions your clients sign. This includes their data room. If your client requires a VDR for their M&A deal A modern interface with granular authorizations for documents and a solid team of support could make or break the process of negotiating.
You can find out more about various providers by reading reviews at websites like Capterra or G2. Beware of providers that have a lot of 5-star reviews but only one is from a specific industry or use case.
Look for transparent pricing during your study. Make sure that the plans are clearly outlined and understand what features are included in each plan and what are added ons. A lack of transparency regarding pricing is a red flag because it could lead virtual data rooms guide to unexpected costs down the road.
Find the VDR with a trial period. Make sure you have the opportunity to test the VDR with your team to determine whether it’s a fit before making a financial commitment. Beware of a vendor that doesn’t offer a trial period as it limits your ability to evaluate the product’s usability, features and performance under real conditions without having to pay.
Demos can be scheduled once you’ve narrowed down your list of potential providers to get a feel of their services and support for customers. Take note of how responsive they are and ask them any questions related to cost, security, integration capabilities, scalability and ease of use.
POSTED BY
John Avery
22nd October 2024
