If you’re working with clients to manage their data for M&A or due diligence or other reasons, it’s very important that the tools that you use are easy to set up and provide the right level of security. You can’t afford to let them be vulnerable or have bugs that could pose a danger to the information you are sharing. This is especially true when it comes to companies who want to sell, raise funds or do other activities.

Also, the manner in which your clients can utilize and comprehend the data room is also crucial. Using outdated, heavy tools can create friction and cause confusion with your client during the deal process and ultimately delay the process and lead to issues that could affect the final outcome of the deal. Modern dataroombd.com/5-data-rooms-for-corporate-finance-deals/ intuitive interfaces and features like view as well as access permissions that are granular and reporting insights are crucial.

Another aspect to consider is storage capacity and the number of users. Some data rooms charge by GB that can be quite costly for companies that have very massive amounts of data to keep and share. Others offer a flat monthly fee and include a certain number of user licenses, which can be more cost-effective for certain.

Some vendors also offer a per page pricing model, which can become expensive if you are required to manage and share a large number of documents. This isn’t a very frequent model but it’s still available and is worth looking into for if you must manage high volumes of document pages.