A Virtual Data Rooms Guide For Advisors

As an advisor, it is crucial to be knowledgeable about all aspects of your clients‘ deals. This includes their data room. If your client requires an VDR for their M&A deal Modern interfaces with granular access to documents and a strong team of support can make or break the deal process.

You can learn more about the different providers by reading reviews on sites like you can check here Capterra and G2. Be wary of a service with a large number of 5-star reviews but only one of them is from one particular field or usage case.

When you do your investigation, look for clear pricing. See if the plans are clearly explained and know what features are included in each plan and which are add-ons. Lack of transparency in pricing is a red flag since it could lead to unexpected costs later on.

Look for a flexible VDR with the option of a trial. You should be able to test the VDR with your team and decide whether it’s suitable before you make a financial commitment. Make sure to avoid a service that doesn’t offer a trial as it can limit your ability to assess the product’s capabilities, usability and performance under actual conditions without having to pay.

Once you’ve identified the top three vendors, schedule demos with them to experience their platform and their customer support. Ask them questions about costs security, integration and security capabilities. Also ask questions about the scalability and user-friendliness of their platform.