There are many data room providers available on the market today. It is easy to get attracted by cheap pricing plans or the promise of a free trial, however, if you don’t take the time to research the various options, you could end up with an VDR that doesn’t meet your requirements.

It is also important to pay attention to the support. Make sure that they offer at least a minimal response time, 24/7/365 availability and single-point-of-contact resolution, as well as a knowledge base and free access to an online demo. Features that are convenient to look for include a wide range of file formats support as well as a user-friendly interface. Drag & Drop file upload.

Make sure the company offers a variety security measures like two-factor authentication or 256-bit SSL encryption. This way, you are able to ensure that your documents aren’t in the hands of hackers and are secured.

The majority of virtual data rooms serve various industries, but certain ones are virtual data room use cases more specialized than others. For example, M&A virtual data rooms offer users tools to streamline the due diligence process as well as secure large-scale document sharing. They often also include checklists and templates to simplify the process of making deals for users. Another common industry is real estate, where the virtual data room is utilized to manage the entire due diligence process, as well as to securely exchange documents with a wide range of people.