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If you’re working with clients to manage data for M&A, due diligence or other reasons, it’s crucial that the tools you use are easy to set up and possess the appropriate level of security. You don’t want the tools to be infected with bugs or vulnerabilities that are an issue for the data you’re sharing – especially when it’s a business trying to sell and raise funds or other activities that would be affected by any issue in this area.

It is essential that your clients know how to use the data room. Using outdated, bulky tools can cause friction and confusion during the deal process. This can slow the deal and may cause issues. Modern, intuitive interfaces and features such as well as access permissions that are granular and reporting insights are crucial.

The capacity of storage and the number of users are important factors. Some data storage facilities charge by the GB which can be very expensive for businesses with huge amounts of data to store and share. Some provide a monthly fee and include a certain number of user licenses. This may be more cost-effective for certain.

Some vendors offer a per-page pricing model, which can get expensive if you are required to manage and share a significant amount of documents. This is a less well-known option however, you should take a look if you need to manage large quantities of documents.