When selecting a Data Room Vendors Choose one that has a complete software platform that is easy to use. A user interface that’s intuitive for CFOs and accounting professionals at the entry level will be a major benefit, along with customization options such as logo and color scheme. Some companies also provide additional services that help with due diligence, including training and consulting. These services are particularly valuable for small and mid-sized companies.
A lot of vendors offer a no-cost trial that lasts between a few days and several months. This trial offers an excellent opportunity to test the software and determine how it stacks up against other options. During the trial you can test mock processes, such as checking documents against a due-diligence check list. This will allow you to test the effectiveness of each platform and determine how much it will bring value to your business.
There are a variety of pricing models available for data rooms. These include per-storage (per-page) per-user and per-user. Each has its advantages and drawbacks. Be sure to take a careful look at each option before settling on one that fits your budget. It’s also important to determine what features you need and what features are optional. For instance, if planning to use your VDR to conduct M&A due diligence, it might be beneficial to include the current cap table. This will give potential investors an insight into the way in which the company is funded, the options for future hiring, and how the equity of the founder is divided among existing investors.