It is essential to be familiar with all aspects of the deals your clients make. This includes their data room. If your client requires a VDR for their M&A deal A modern interface with granular permissions on documents and a strong team of support can have a major impact on the process of negotiating.
You can learn more about the different providers by reading reviews on websites like Capterra and G2. Be cautious of a company who has many 5-star reviews but only one from an industry or use case.
When you do your research, look for transparent pricing. Check if the plans are clearly explained and know the features included in each plan and what are add ons. Inconsistency in pricing can lead to unexpected costs later on.
Find the VDR that has the opportunity to try it out for a trial period. Make sure you have the opportunity to test the VDR with your team and determine whether or not it is suitable before making a financial commitment. Make sure to avoid a service that doesn’t provide a trial, as it limits your ability to test the product’s capabilities, usability and performance under actual conditions without paying.
Demos can be scheduled once you’ve narrowed down your choices of providers to get a feel of their platform and customer support. Ask them about cost, security and integration capabilities. Also inquire about scalability and ease of use.