It is crucial that your tools are simple to use and secure when working with clients to manage their data for M&A or due diligence. You can’t afford to let them have bugs or vulnerabilities which could pose a threat for the data that you share. This is especially relevant for companies who want to sell, raise money or engage in other activities.
It is essential that your clients comprehend and use the data room. Utilizing old, cumbersome tools can cause confusion and friction in the course of negotiations. This can slow down the deal and may cause issues. Modern intuitive interfaces and features like view as well as access permissions that are granular and reporting insights are crucial.
The storage capacity and quantity of users are important factors. Some data rooms charge by the GB that can be very expensive for companies that have very huge amounts of data to keep and share. Some offer a monthly flat cost and offer a predetermined number of user licenses. This can be more cost-effective for some.
Some vendors also offer a per page pricing model, which can become expensive if you need to manage and share a huge amount of documents. This is not a very popular option, but you should still look into it if you are required to manage large amounts of documents.
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