There are many aspects to take into consideration when it comes time to perform due diligence. The most important one is the ability to access documents in an centralized location so that interested parties can access the documents at their leisure. A virtual data room is a wonderful solution for this. It also reduces the costs of storage, printing and courier services that are necessary if physical documents were to be sent.
If you’re deciding on a service provider, make sure they provide a trial period to let you test out the system before signing any contracts. You’ll have the chance to test the system and observe how it is easy to navigate. Also, make sure whether they offer 24/7 support via phone and email. A good provider will offer support in multiple languages, making it easier for international users.
Another thing to take into consideration is the ease of file uploading and downloading. The most reliable services allow you to upload multiple files at once using the drag-and drop feature. This makes the process faster and eliminates the requirement to manually upload each document separately. They also provide granular settings for permissions and the option to deprive a document of access even if it has already been downloaded.
Also, you should look for a Q&A interactive feature, which lets users post questions and get answers in real-time from other users. This can accelerate the process of due diligence and it can also help you close deals faster by solving any issues your clients may have.