How to Choose a Data Room Provider
A virtual dataroom (VDR) can be a useful tool to reduce the time and effort required for mission-critical transactions, eliminate bottlenecks and guide them towards the desired outcome. Not all VDRs operate the same way and choosing a flawed one could put your data at risk of theft, unauthorized access or loss.
Take note of the way a vendor is compared to other vendors on these key criteria.
Pricing
One of the most important and least understood differences among VDR providers is their pricing model. A lot of the older providers charge per document basis however, while this could work for small documents with well-defined structure but it’s not ideal for larger, more ambiguous deals or M&A due diligence. The flat-rate pricing offered by newer providers is a more attractive option for large-scale projects or long-term contracts. These flat-rate monthly fees include unlimited pages, users and storage.
Permission Settings
The granularity of the permissions settings in the permissions of a VDR can greatly impact your ability to keep pace with confidentiality obligations and avoid miscommunications. Consider options like “view only” and the option to activate watermarks to prevent downloads of files that are intended for consultation only. Also, make sure you look through the details of your activity logs, which https://boardroomservice.com/guidelines-to-compare-virtual-data-rooms/ will help you identify workflow roadblocks, gauge the level of engagement within your team and increase transparency in the internal environment.