While options exist in the market, they are certainly not equal. When evaluating providers, it is best to grade on six criteria:
1. Speed - Opportunities arise quickly. The top viritual data rooms are built for rapid implementation no matter the size or complexity of the deal and site content.
2. Simplicity - As the pressure of transaction due diligence rises, you need an application that is intuitive, smart and efficient. One that delivers features and functionality to drive efficiency and unlock productivity for users on both the sell-side and buy-side of corporate events.
3. Security - Comprehensive M&A due diligence is simply too important to trust to off-the-shelf file sharing services that are vulnerable to malicious intruders. Proper controls not only protect your sensitive content, but also secure your competitive advantage.
4. Service - Always on, omni-channel support, with fluency in multiple languages.
5. Innovation - High velocity, foward-thinking, agile product development that continously delivers new features and functionality.
6. Expertise - Best-in-class providers stay on top of ever-changing regulations and industry trends so you can focus on optimizing deal outcomes. Select a provider that brings deep, industry specific subject matter expertise and will offer best practice guides for data room setup and ongoing support throughout due diligence lifecycle.