Choosing the best virtual data space for due diligence relies on a lot of different factors. The different vendors offer different features, security levels, support options, and storage capacity, and some might have unique pricing plans. So, evaluating and defining the requirements of your project is crucial in determining the most suitable vendor for your project.
It can be difficult to compare virtual data rooms according to their features, however, you can narrow your search by taking into account certain aspects. Determine your group’s roles and duties. It’s good to imagine a virtual information room in the same way as a physical. Who will be entering the room, what information do they require access to and how do you intend to organize files within the filing cabinets?
Capterra is a great platform to track reviews on software to determine the credibility of a vendor. Focus on the positive and negative feedbacks and how they relate to your company. You can also consult with your acquaintances and colleagues for suggestions.
When comparing virtual data rooms, ensure that the service you’re considering support your specific formats and file extensions. Make sure that the service you choose is compatible with industry standards and provides sufficient compliance reporting tools. Be sure to test the solution’s security and support features during the trial. This is the best method to ensure your information is secure and can be easily accessed in an emergency.