As an advisor, it is important to be informed about the entirety of the deals your clients make. That includes their data room. If your client’s M&A transaction requires the use of a VDR or a modern and intuitive interface that has www.vdrguide.com/virtual-data-room-providers-and-their-influence/ granular document permissions and a dependable support team can determine the success or failure of their deal process.
You can learn more about different services by reading reviews on websites like Capterra or G2. Be wary of providers that have a large number of 5-star reviews but only one is from a specific industry or case.
When you do your research, look for transparent pricing. Check if the plans are clearly explained and be aware of the features included and which are optional. Insufficient transparency regarding pricing could lead to unexpected charges later on.
Find a flexible VDR with the option of a trial. Be sure to test the VDR with your team and decide whether or not it is suitable before you make an investment. Beware of companies that don’t offer a free trial. You won’t be able to test the product in real-world conditions and assess its functionality, features, and performance.
Make sure to schedule demos after narrowing down your options of providers to get a feel of their customer service and platform. Ask them about costs and security, as well as integration capabilities. Also ask questions regarding scaling and ease of use.