Firmex

Choosing the Right Virtual Data Room

Consider the following when evaluating a Virtual Data Room provider. Asking the right questions will help you make a more informed decision and discern between a VDR provider and a VDR partner.

Data Security

Choosing the Right Data Room Provider Ensure your Virtual Data Room provider as well as their Data Center partner are compliant with the latest security standards.

  • Has the Data Center received SOC 2 Type II certification?
  • How do they manage your data to ensure you are compliant with privacy rules?

Readiness

Choosing the Right Data Room Provider Setting up your privately branded Deal Room needs to be fast and painless when getting ready for a time sensitive transaction, or to support a mission-critical process such as compliance.

  • How quickly will they respond to your initial request to get a Virtual Data Room (VDR) started?
  • How long do they estimate it will take to go live?
  • Do you require integration to other enterprise systems or to download a desktop application?
  • How much support would be required from your IT department to implement the VDR? 

All-Inclusive Service

Choosing the Right Data Room Provider Unlimited, on-demand support and training 24/7 is the only service model that makes sense for mission critical projects.

  • Is unlimited 24/7 support included in your quote?
  • Is there a variety of training support available
    - in-person, telephone, videos and a
    searchable knowledgebase?
  • Are you capped at the number of users
    that can receive training?

Cost Certainty

Choosing the Right Data Room Provider Don't get caught paying a lot more for your Virtual Data Room solution than you agreed to, especially if it was on behalf of your client.

  • Are there limits on your data storage?
  • Are there additional fees for extra
    documents, pages or users?
  • Is there an option for unlimited use?
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