It is crucial that your tools are easy to use and secure when you work with clients to manage their data for M&A or due diligence. It’s not worth letting them have bugs or vulnerabilities that could pose a danger to the information you are sharing. This is particularly relevant to companies that are looking to sell, raise funds https://dataroombd.com/what-is-docsend or perform other tasks.
Similarly, the way your clients utilize and comprehend the data room is important. Using outdated, heavy tools can create friction and cause confusion with your client during the process of negotiating and ultimately delay the process and cause issues that could impact the result of the deal. Modern, user-friendly interfaces that include features like view as well as granular access rights for access and reporting insights are vital.
Another factor to consider is the capacity of storage as well as the amount of users. Some data storage services charge per GB. This could be a significant expense for companies with large amounts of data that they need to store and share. Others offer a flat monthly cost and come with a certain number of user licenses, which may be more cost-effective for some.
Additionally, some vendors offer per page pricing, which can be expensive if you have a lot of documents to be managed and shared. This isn’t the most typical model but it’s still available and is worth looking into as an option if you require to manage large volume of pages in a document.