As an advisor, it is crucial to be knowledgeable about the various aspects of the transactions your clients have with you. This includes their data rooms. If your client requires a VDR for their M&A deal, a modern interface with granular authorizations for documents and a strong team of support can have a major impact on the deal process.
You can find out more about the various providers by reading reviews on sites like Capterra and G2. Be wary of a provider with a large number of 5-star reviews but only one of them is from a particular area or use cases.
Find transparent pricing when doing your study. Be sure that the plans you are considering have been clearly explained and be aware of what features are included and those that aren’t. The absence of clear pricing is a red flag as it could result in unexpected costs down the road.
Find a flex VDR with a trial period. You should test the VDR out with your team to determine whether it’s a suitable fit before you commit money. Do not choose a vendor that does not provide a trial, as it will limit your ability to test the features, usability and performance under real conditions without spending.
Demos can be scheduled once you’ve narrowed down your list of potential providers to get a feel of their platform and customer support. Make note of how responsive they are and virtual data rooms guide ask them questions related to security, cost, integration capabilities, scalability, and ease of use.