A virtual dataroom (VDR) can be a valuable tool to simplify mission-critical processes and transactions, address bottlenecks and direct them towards achieving the desired outcome. However, not all VDRs are made equal, and picking the wrong one could put your valuable documents at risk of unauthorized access or theft.
Think carefully about how a vendor compares to other vendors based on these essential criteria.
Pricing
One of the most significant and most obfuscated differences between VDR providers is their pricing strategy. A lot of the older providers charge on a per-document basis which may work for small-scale projects with clearly defined document structures but it's not ideal for larger, more ambiguous deals or M&A due diligence. The flat-rate pricing offered by modern providers is a more attractive choice for large projects as well as long-term contracts. Flat-rate monthly costs include unlimited pages, users and storage.
Permission Setting
The degree of granularity you can set in the permissions settings can have a significant impact on your ability to maintain privacy and avoid misinterpretations. Check for options such "view only" and the option to turn off watermarks to block downloading of files intended for consultation only. Be sure to explore detailed activity logs that can help you identify issues with workflow, determine the level of engagement of your team and increase transparency within the company.