As an advisor, it’s important to be informed about the various aspects of the transactions your clients have with you. This includes their data rooms. If your client’s M&A transaction requires a VDR and a modern, user-friendly interface with precise document permissions and a strong support team can determine the success or failure of their deal process.

You can find out more about the various providers by reading reviews on sites like Capterra and G2. Be wary of a service that has important source a lot of 5-star reviews but only one review from one particular area or use case.

Look for transparent pricing during your research. Make sure that the plans are clearly outlined and understand the features included in the plans and which are add-ons. A lack of transparency regarding pricing could lead to unexpected charges later on.

Look for the VDR with the opportunity to try it out for a trial period. Be sure to test the VDR with your team and determine whether or not it is a fit before making a financial commitment. Don’t choose a provider that doesn’t provide a trial period for free. You won’t be able to test the product in real-world conditions and evaluate its usability, features, and performance.

After you’ve narrowed down a few potential providers, arrange demos with them to experience their system and their customer service. Be sure to take note of how responsive each provider is and ask them questions pertaining to cost, security, flexibility, integration capabilities and ease of use.