Virtual data rooms have become a vital tool in M&A deals, IPO releases and fundraising by startups. They are also used for due diligence. They make document sharing faster and more secure and aid in ensuring compliance with regulatory requirements. It is essential to conduct thorough research and evaluate before selecting the right VDR. Software review platforms like Capterra and Trustpilot are a great place to start. However, it’s also important that you review reviews from third-party sources.

In addition to a standardized user interface, the best virtual data rooms provide features that make it easier and more efficient to run operations for everyone in the company. This includes a customizable UI with a personal branding, a single sign-on for all projects, and an easy-to-navigate document structure that can be used across various devices. Search for VDRs that have 8 levels of document rights as well as granular permissions.

It’s crucial to take into account the customer service provided by each provider of virtual data rooms. Look for a team that’s accessible 24/7 and provides a variety of contact channels such as live chat and phone. It’s also helpful to check whether they’re able translate their assistance into your native language. Additionally, the most suitable virtual data room providers offer a seamless integration with storage platforms and provide the opportunity to trial their services for free for up to 30 days. This allows you to test the software and make an informed decision on the suitability of the software for your specific project.