It is essential that your tools are easy to use and secure when you work with clients to manage their data for M&A or due diligence. It’s not possible to afford for them to be prone to bugs or vulnerabilities that are in danger to the data you’re sharing, especially if it’s about a business that’s trying to sell, raise funds or do other tasks that could be impacted by any issues in this field.
In the same way, the manner in which your clients can utilize and comprehend the data room is crucial. Utilizing old, cumbersome tools can create friction and confusion during the process of negotiating. This can slow the process and cause problems. Modern, intuitive interfaces and features like view as, granular access permissions and reporting insights are crucial.
Another crucial aspect to consider is the capacity of storage and the amount of users. Some data storage services charge per GB. This could be very costly for businesses with large amounts of data they need to store and share. Some data rooms charge a flat amount per month and offer an agreed number of users’ licenses. This may be more cost effective for certain.
Some vendors also offer a per-page pricing model, which could be expensive if you have to manage and share a lot of documents. This isn’t the most frequent model, but it’s still out available and worth a look as an option when you must manage high quantities of document pages.