A virtual dataroom can be beneficial in many business situations. It can be utilized by C-level executives to share data with investors, service providers, or external companies. It could be used by HR departments to manage employee records, or project managers who are involved in various aspects of operations. Whatever the reason it is, a VDR that has strict security measures already in place can help facilitate transactions and prevent any theft of data.
The type of data you’ll be uploading to your VDR will influence what features you’ll require, such as granular user permissions and two-factor authentication. Find out if the application you’re considering is compatible with any other software that your company employs. This can save time and effort if you’re in a position to integrate your VDR with tools such as Salesforce or Slack.
When choosing when choosing a VDR provider, you must be aware of how many users are going to be accessing the review platform and the amount of storage space you’ll require. For instance, some older providers still charge per page prices which can quickly increase and over your budget. You can also choose 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. iDeals, for example and Securedocs are both user-friendly simple interfaces, and are suitable for small and medium-sized companies. They’re also ISO compliant and provide clear pricing with no hidden fees or contracts.