As an advisor, it’s important to be informed about all aspects of the deals your clients make. This includes their data room. If your client’s M&A transaction requires a VDR with a modern, intuitive interface that has granular document permissions and a dependable support staff can be the difference between a successful or unsuccessful deal process.
You can learn more about the different providers by reading reviews on sites like Capterra and G2. Be wary of a service that has a lot of 5-star reviews but only one from an field or usage cases.
Find transparent pricing when doing your study. Check if the plans are clearly laid out and you know the features included in each plan and which are added ons. A lack of transparent pricing is a red signal as it could result in unexpected costs later on.
Choose a flexible VDR with a trial period. It is recommended to test the VDR out with your team to determine whether it’s the right fit before committing money. Don’t choose a provider that doesn’t provide a free trial. You won’t be able to test the VDR in real-world conditions and assess its usability, features, and performance.
Demos can be scheduled once you’ve narrowed down your options of providers to get a sense of their platform and customer support. Ask them about costs, security and integration capabilities. Also ask questions about scaling and ease of use.