There are a variety of data room companies on the market. It’s easy to be lured by the low cost or a trial offer. But if you don’t do your homework and do your homework, you could end up with a VDR which doesn’t meet your needs.
Support is also important. Make sure that they offer at least a minimal response time, 24/7/365 availability and single-point-of-contact resolution, as well as a knowledge base and free access to an online demo. Convenience features to look for include broad file format support along with a user-friendly interface and Drag & Drop file upload.
Also, make sure that they offer a variety of security measures, including two-factor authentication and 256-bit SSL encryption, and virus scanning. This way, you are able to ensure that your files aren’t in the hands of hackers and are protected.
Virtual data rooms are offered to a variety of industries. However, some are more specialized. For instance, M&A virtual data rooms offer users tools to streamline the due diligence process, as well as secure large-volume document sharing. They also provide templates and checklists that aid their users streamline the process of making deals. Another industry that is commonly used is real estate, and the virtual data room can be used to manage the whole due diligence process, and to securely exchange documents with a wide range of people.
https://www.dataroom-rating.org/virtual-data-room-features-and-use-cases/
