Online data room providers offer a secure, cloud-based platform for sharing documents with third parties. They are extremely popular in M&A where the due diligence requires large files and a lot of scrutiny of documents. They are also used to raise funds, as they allow companies to safely share information with potential investors. Look for a provider that has flexible pricing structures and advanced features. You can find the perfect one for your needs.
Choose a provider that offers granular user permission settings to stop sensitive information from being misused by a third party. Be sure to search for two-step authentication and identity verification instruments as well. You can also benefit from features that make it easier for you to work with your colleagues in the same virtual space. For example some VDRs have protection for folders, batch downloading, and search capabilities to expedite the review process.
Some online data room providers offer a trial period to check out the software before you purchase. Some offer a monthly flat rate, giving you more flexibility for longer projects. Other options include a year-long subscription, which allows you to budget more effectively and ensures that you have all the tools you need for your specific needs.
Support for customers is an additional factor to consider when comparing the services of online data rooms. The best providers offer an account manager who is devoted to their customers that is available 24/7 via phone and live chat line, library and extensive documentation along with live chat and a 24-hour phone number. They also have a simple interface that even a technologically adept user can easily use.