When choosing a Data Room vendor ensure that you select an extensive platform that’s easy-to-use. A user interface that is easy for the CFO and entry-level accountant will be a great benefit, as will the customization options such as logos and color scheme. Some vendors also provide additional services that help with due diligence, such as training and consultation. These are beneficial, particularly for smaller and medium-sized businesses.
Many vendors offer a no-cost trial that lasts anywhere from one week to a month. This trial offers an excellent opportunity to test the software and to see how it compares to other alternatives. During the trial, you will be able to test mock-up procedures, for instance, reviewing documents in accordance with a due diligence checklist. This will allow you to assess the effectiveness of each platform and determine how much it will bring value to your business.
There are many pricing options that are available for data rooms. These include per-storage (per-page), per-user, and per per-user. Each has its own pros and cons. Make sure to take a close look at each option before selecting one that suits your budget. It is important to understand which features are necessary and which are optional. If you’re planning to make use of your VDR as part of M&A due-diligence, it could be beneficial to include a current captable. This will give potential investors a view into how the company is currently funded, the options for future hiring, and how the equity of the founder is divided among existing investors.
