A virtual data room can help a number of business scenarios whether it’s for executives at the top sharing data with service providers, potential investors or companies from outside HR departments who manage employee records, or even project managers involved in various aspects of operation. Whatever the reason an VDR with a strict security system already in place can help streamline a transaction and avoid any misuse of information.
The type of data that you’ll uploading to your VDR will influence what features you’ll need for, including granular user authorizations and two-factor authentication. Check if the software you’re considering is compatible with any other applications that your company uses. This can help save time and effort if you are able to integrate your VDR with tools such as Salesforce or Slack.
When selecting the best VDR provider, it is important to think about how many users will be accessing the platform and the amount of storage space you’ll need. Some old providers charge per page, which could quickly overrun your budget. Other options are per user or a fixed monthly cost.
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 both suited for small and medium-sized enterprises and come with simple, intuitive interfaces. They’re ISO compliant and provide clear pricing, with no hidden charges or contracts.
