Virtual data rooms streamline due diligence and M&A processes which makes them essential for businesses across all industries. The top VDR providers provide a range of features that are suited to specific businesses and projects. Some of these features www.virtualdatabase.info/10-virtual-data-storage-pitfalls/ may be common to all online repositories whereas others could be more sophisticated and cost more. In this article, we review a selection of the most popular platforms and evaluate their capabilities.

To select a dataroom that is virtual it is first necessary to establish the needs of your business. Consider whether the platform offers additional security features like fence view or remote wipe. Also, consider the number of users allowed since some vendors restrict user access to specific folders or documents, which could be problematic when you’re dealing with massive transactions.

You should also check whether the vendor has support available 24/7. Some of the top providers have live customer support representatives who are able to assist with any issues you encounter. Also, read reviews on independent websites (G2 Crowd and Capterra are good examples) and then contact the vendor to see if they offer a free trial or demo period.

Look at pricing models. Some providers offer plans based on document storage capacity, which is perfect for businesses that upload only small quantities of documents. Some providers offer a pricing model which is based on number of users which is great for small-sized businesses and small-scale projects. Be sure to check if the provider has servers in close proximity to your area. This could improve the performance and speed of data processing.