As an advisor, it is important to be well-informed about the entirety of the deals you negotiate with your clients. This includes their data room. If your client’s M&A transaction requires the use of a VDR and a modern, user-friendly interface with granular document permissions and a strong support team can make or break their deal process.

You can find out more about the various providers by reading reviews on websites like Capterra and G2. Be wary of a vendor who has many 5-star reviews but only one review from specific area or use case.

When you do your search, be sure to look for transparent pricing. Make sure that the plans are clearly outlined and understand what features are included in each plan and what are add ons. Insufficient transparency in pricing can lead to unexpected charges down the line.

Find a VDR with an opportunity for trial. You should test the VDR out with your team to determine if it’s a good match before you make a commitment. Do not choose a vendor that does not offer a trial since it may limit your ability you can check here to assess the product’s usability, features and performance under real-world conditions without spending.

Set up demos after you’ve narrowed down your list of possible providers to get a sense of their services and support for customers. Ask them about costs, security and integration capabilities. Also inquire about the scalability and user-friendliness of their platform.