A virtual data room can be beneficial in many business situations that involve executives at the highest level sharing information with service providers, potential investors or external firms, HR departments looking after employee records, or project managers who are involved in different aspects of operations. A VDR that is secure and has the right measures in place will allow to speed up a transaction and also prevent any unauthorized use.
The type of data you’re planning to upload will determine what features you need, such as two-factor authentication and granular authorizations. Also, make sure that the software is compatible with other software your company uses, as you can often save time and effort by unifying your VDR with other tools, such as Salesforce or Slack.
When selecting when choosing a VDR provider, think about how many users will be utilizing the platform and how much storage space you’ll need. For instance, some older providers still charge by per page which can quickly grow and outstrip 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 instance, and Securedocs both feature intuitive, simple interfaces and are suitable for small- and medium-sized enterprises. They’re ISO compliant and provide clear pricing without hidden costs or contracts.