Online data room providers offer a cloud-based, secure platform for sharing documents with third parties. They are extremely popular in M&A where due diligence involves large files and lots of scrutiny of documents. They can also be used to raise funds, since they allow companies to securely share information with potential investors. To find the most suitable one to meet your needs, search for a service that has flexible pricing models and advanced features.
Select a service with granular user permission settings to stop sensitive information from getting into the wrong hands. Look for tools that allow you to verify your identity and carry out two-step authentication. You can also benefit from features that make it easy to work in the same virtual space with your team. Some VDRs, such as provide security for folders as well as batch downloads and search functions to help speed up the review process.
Some data room providers online offer a trial period to get a feel for the software before you purchase. Others offer a monthly fixed rate, which gives you more flexibility when it comes to projects that are longer. Other options include a year-long subscription, which helps you budget more effectively and assures that you have the tools you require to complete your project.
Customer support is a key aspect to be considered when comparing the services of online data rooms. The best providers have a dedicated account representative as well as a 24-hour phone and live chat line, a library with extensive documentation and a 24/7 live-chat and phone number. They also have a user-friendly interface that even a technologically adept user can easily use.