It is vital that your tools are easy to use and secure when working with clients to manage their data for M&A or due diligence. You shouldn’t allow them to have vulnerabilities or bugs that pose a risk to the data you’re sharing – particularly when it’s about a business that’s trying to sell or raise funds, or perform other activities that could be impacted by any issues in this field.
Also, the manner in which your clients can utilize and comprehend the data room is important. Utilizing outdated, cumbersome tools can cause friction and confusion with your client during the process of negotiating, which will ultimately slow things down and possibly cause issues that could affect the result of the deal. Modern, user-friendly interfaces that include features like view as well as granular permissions to access and insights into reporting are crucial.
Another crucial aspect to consider is the capacity of storage as well as the amount of users. Some data storage services charge per GB. This can be a significant expense for companies with large amounts of data that they need to store and share. Some data rooms charge a flat cost per month and provide a certain number of licenses for users. This could be more economical for some.
Some vendors also provide pricing per page that can be expensive in the case of a lot of documents to be managed and shared. This is a less popular option however, you should think about it if you need to manage large quantities of documents.