A Virtual Data Rooms Guide For Advisors
It is crucial to be familiar with all aspects of the deals your clients sign. This includes their data room. If your client needs a VDR for their M&A deal, a modern interface with granular permissions for documents and a strong team of support can be the difference between success and failure in the process of negotiating.
You can learn more about the different providers by reading reviews on sites like Capterra and G2. Be wary of a service who has many 5-star reviews but only one review from a particular field or usage cases.
During your research, look for transparent pricing. Make sure that the plans are clearly explained and be aware of what features are included and which are optional. A lack of transparent pricing is a red flag since it could lead to unexpected costs later down the line.
Look for the VDR with an opportunity for trial. You should be able to test the VDR with your team to determine whether it’s suitable before you make a financial commitment. Make sure to avoid a service that doesn’t provide a trial, as it limits your ability to assess the product’s usability, features and performance under real-world conditions without spending.
Demos can be scheduled once you’ve narrowed down your choices of providers to get a sense of their capabilities and customer support. Make note of how responsive they are and ask them any click reference questions related to security, cost and the ability to integrate, scalability and usability.