The choice of a virtual data space provider isn't an easy task. There are a variety of vendors, each offering different pricing models and features. Some of the differences are minor however others can make a huge difference to the success of your project.
Take into consideration, for instance, the ability of a vendor to offer assistance. It is important to be aware that if you encounter an urgent issue you can reach someone live and receive prompt, helpful assistance. Also, make sure the vendor provides extensive reports and data analytics that give you a complete understanding of the activities in your document.
A user-friendly interface that includes advanced security features is a different thing to look for. You should be able to set users, groups and document permissions and control access to documents even the users download them. Also, ensure that the vendor has dynamic watermarks, locking to IP and the capability to block access to documents remotely even if they're already installed on an device.
The final thing to be looking for is a vendor who is well-suited to your particular industry and type of project. M&A virtual rooms, for example offer a variety of features that streamline due diligence and facilitate deal-making. Virtual datarooms for real estate, in contrast, are designed to meet the unique file compatibility requirements of real estate buyers or sellers. Many real estate VDRs offer templates and checklists which can aid users with their due diligence process.
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