When choosing a Data Room vendor pick one that offers a broad platform that is easy to use. A user interface that is simple for the CFO and entry-level accountant will be a great benefit, as will the customization options like logos and color scheme. Some vendors also offer additional services that can help with due diligence, such as training and consultation. These are very beneficial, particularly for businesses of a smaller or medium size.
Many vendors offer a no-cost trial that can last from one week to a full month. This is a great opportunity to test the software and compare it with other alternatives. During the trial you can simulate processes, like checking documents against a due diligence check list. This will allow you to test the effectiveness of each platform, and determine if it will bring value to your business.
There are a variety of pricing models available for data rooms. These include per-storage (per-page), per-user, and per user. Each one has its own advantages and drawbacks. Be sure to thoroughly consider each option prior to settling on one that suits your budget. It’s also important to know what features you need and which are optional. If you’re planning to make use of your VDR as part of M&A due-diligence, it could be worth including a recent captable. This will provide potential investors with a view into how the company is currently funded, what options remain for future hiring, and also how a knockout post about the most confident data room provider the founder equity is divided between existing investors.