www.vdrguide.com/virtual-data-room-providers-and-their-influence/
As an advisor, it’s important to be knowledgeable about the entirety of the transactions your clients have with you. This includes their data rooms. If your client’s M&A transaction requires a VDR or a modern and intuitive interface with granular permissions for documents and a solid support team could make or break their deal process.
You can find out more about different providers by reading reviews at websites like Capterra or G2. Be wary of a service with a large number of 5-star reviews but only one of them is from specific sector or use cases.
When you do your research, look for transparent pricing. Check if the plans are clearly explained. Also, be aware of the features included and what are not. Lack of transparency in pricing is a red flag since it could result in unexpected costs later on.
Find a flexible VDR with the option of a trial. It is recommended to test the VDR out with your team to determine whether it’s a suitable fit before you commit money. Avoid a provider that doesn’t offer a trial period as it will limit your ability to assess the product’s usability, features and performance in real-world conditions without having to pay.
Set up demos after you’ve narrowed down your list of potential providers to gain a better understanding of their capabilities and customer support. Be sure to keep track of how responsive each is and ask them questions related to cost, security and scaling capabilities, integration capabilities, and ease of use.
