Step 1: Make a list with the criteria you wish to meet for your ideal vdr.

Consider your main tasks and needs when working with data, and then choose a data room software that can meet those requirements. For instance, if looking for a VDR that can be used for an M&A due diligence process, make sure you choose one that has extensive features for document management, collaboration, security and tracking.

Once you’ve created your list of criteria, you can research different platforms on review websites like Capterra or G2. Read reviews intralinks of users in similar industries and similar cases comparable to yours. Consider how the platform’s integration features can help improve your workflow.

Compare the cost structures of different providers. You can avoid surprises by selecting providers with a fixed monthly fee. Verify if the provider has a support staff who is available at all times. This includes their response time and whether they provide support via live chat, phone or email support.

After you’ve narrowed your list of candidates, try them out via a free trial. You should pay attention to the ease of use of the software, its interface, and how easy it is to use. Also test for things such as the ability to redact e-mails, uploads of emails, and buyer management tools. Make sure that the vendor has a variety of security measures and abides by world-renowned certifications. This includes multi-factor authentication, secure storage and backup and multiple data centers situated in a variety of locations.