A virtual data room is a great solution for a number of business scenarios, whether it’s for executives at the top sharing data with service providers, prospective investors or external firms HR departments who are responsible for employee records, or even project managers involved in various aspects of operations. Whatever the reason it is, a VDR with strict security measures already in place can simplify a transaction and stop any misuse of information.
The type of data you’re planning to upload will determine the features you need like two-factor authentication or granular permissions. Find out if the application you’re looking at is compatible with any other software that your company employs. This can help save time and effort if capable of integrating your VDR with tools like Salesforce or Slack.
When choosing the right VDR when choosing a VDR, you must take into account how many users will be able to access the platform as well as how much storage you’ll need. For example, some legacy providers still charge per page which can quickly grow and outstrip your budget. You can also opt for a monthly flat cost or pay per user.
There’s also a new breed of modern VDR providers who leverage technology innovations and efficient Software-as-a-Service delivery models to offer professional-grade document control, security and support at a fraction of the price of legacy providers. For instance, iDeals and Securedocs are suitable for small as well as medium-sized businesses. They have simple, intuitive interfaces. They are ISO-compliant, and provide transparent pricing, without any hidden charges or contracts.