A virtual data room is a great solution for a number of business scenarios that involve executives at the C-level sharing information with service providers, prospective investors or external companies, HR departments looking after employee records, or project managers who are involved in different aspects of operation. A VDR with strict security measures in place will help to make transactions more efficient, and prevent any misappropriation.
The kind of data you’ll be uploading to your VDR will influence what features you require for, like granular user authorizations and two-factor authentication. It is also important to determine if the software is compatible with other software your company uses, as you’ll often save time and effort by unifying your VDR with other tools like Salesforce or Slack.
When deciding on a VDR it is important to take into account how many users will be using the platform as well as the amount of storage you’ll require. For instance, a few older providers still charge by per page which could quickly add up and exceed your budget. You can also opt for a monthly flat fee 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 example, iDeals and Securedocs are suitable for small as well as medium-sized enterprises and come with simple user interfaces that are easy to navigate. They are ISO-compliant, and offer clear pricing without the need for hidden charges or contracts.
