When looking at potential virtual data room providers, be sure to look beyond the hype and glam of marketing. To get a clear picture of the provider’s performance check out reviews from various sources. This includes software review websites, customer feedback and other review sites. Compare pricing plans to make sure they’re within your budget. Be aware of the 24/7 support available and the way it is provided (emails and phone calls are usually quicker than chat).
Look for a service provider that offers the features you need. If you’re sharing documents with a lot of users, search for features that help speed up the process of due diligence. Other useful features include user-specific permissions, activity and file tracking, as well as strong encryption of data.
Many data room providers offer several pricing plans for their services. For example they charge per page, with additional charges for additional pages. Some companies charge per GB and have unlimited users. Other providers charge per user, with a set number of users included. Additional fees are charged for each additional user.
Ultimately, the best data room providers offer a decent value for their services. Do not choose providers that rely too heavily on drinks and gifts to impress clients, since these companies will are likely to spend more time on these perks than to improve their product. Instead, select companies that are focused on providing the functionality and quality you require to make your M&A transaction.
