When selecting a Data Room vendor make sure you choose a broad platform that is user-friendly. A user interface that is intuitive for the CFO and an entry-level accountant is a good asset, as will customization options blog here about the best data rooms for everyday practice like logo and color scheme. Some vendors also offer additional services that can help with due diligence, such as training and consulting. These are valuable, especially for small and medium-sized companies.
Many companies offer a free trial that runs from one week to a month. This trial is an excellent opportunity to try the software and to see how it performs against competing alternatives. During the trial, you are able to simulate processes, such as comparing documents against a due diligence list. This will allow you to test the effectiveness of each platform, and determine if it can add value to your business.
There are various pricing models for data rooms, such as per-page, per-storage, and per-user. Each model has its own pros and cons. Make sure to carefully evaluate each option and select one that is within your budget. It’s also important to understand what features you need and which ones are not required. If you are planning to make use of your VDR as part of M&A due-diligence, it might be worth including a recent captable. This will give investors an idea of how your company is funded and what options are available for future hiring and how equity of the founder has been divided between existing investors.
