It is important to know what functions the virtual data room review will perform. This may seem obvious, but there are many vendors offering features that go beyond your needs and can be expensive and difficult to learn. If you buy too many advanced features they are likely to be unused, and cost you money.
Many VDR providers, for example, offer a free trial to allow you to try out the platform and decide if it is right or not. Nevertheless, you should be aware that some trials are time-limited and others charge after expiration. Be sure to read all the fine print, as some vendors may have hidden charges and fees.
A good virtual dataroom provider will offer robust security measures including two-factor verification and 256-bit SSL. It should also be able to grant granular permissions to users and prevent unwarranted actions such as screen capturing or printing. Additionally, it should have a “fence-view” feature to limit unwanted glances and ensure that files can only be viewed from the device they are downloaded on. It should also have a built-in QA tool, no-plugin IRM, page-by-page document viewing history, and ISO 27001, SOC 2, and HIPAA certifications and compliances.
Another critical factor is how easily you can organize your documents and folders. Poorly designed folder structures can be detrimental to your organization. Invest time in naming and indexing items to maximize searchability and organizational efficiency.