If you’re working with clients to manage data for M&A or due diligence or other purposes it can be essential that the tools you employ are simple to set up and provide the appropriate level of security. You can’t afford for them to be prone to security holes or bugs that pose dangerous to the information you’re sharing, especially if it’s related to a company trying to sell and raise funds or other tasks that could be impacted by any issues in this area.

In the same way, the manner in which your clients can use and understand the data room is important. Utilizing old, cumbersome tools can create confusion and friction throughout the process of making deals. This could slow down the deal process and could lead to issues. Modern intuitive interfaces and features like view as, granular access permissions and reporting insights are crucial.

Another crucial aspect to consider is the capacity of storage and the number of users. Some data rooms charge by the GB, which can be quite costly for businesses with large quantities of data to keep and share. Some data rooms charge a flat fee per month, and come with a set number of licenses for users. This may be more cost effective for some.

In addition, some vendors offer pricing per page, which can be expensive in the case of a lot of documents to manage and share. This is a less common model, but it’s still out available and worth a look as an option when you have to manage huge quantities of document pages.

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