When choosing a Data Room provider pick one that offers a broad platform that is user-friendly. A user interface that is simple for the CFO and entry-level accountants will be a huge asset, as will customizing options like logo and color scheme. Some vendors also offer additional services that can help with due diligence, such as training and consultation. These are particularly useful for mid-sized and small-sized businesses.
Many vendors offer a free trial lasting anywhere from a few hours to a couple of months. This is a fantastic opportunity to test the software and compare it to other alternatives. During the trial, you can run mock processes such as comparing documents against a due diligence check list. This will allow you to evaluate the effectiveness of each platform and determine the value it can enhance your business.
There are a variety of pricing models for data rooms, including per-page, per-storage, and per-user. Each has its own advantages and disadvantages. Make sure to take a close look at each option before choosing one that’s right for your budget. It’s also important to determine what features you need and what aren’t. For instance, if planning on using your VDR for M&A due diligence, it may be beneficial to include the current cap table. This will give investors an idea of how your company is funded today and what options remain for future hiring and how equity from founders has been divided among existing investors.
