A virtual dataroom can be useful in a variety of business scenarios. It can be used by executives at the C-level to share information 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 operation. Whatever the reason, a VDR with strict security measures already in place can help streamline a transaction and avoid any unauthorized use of information.
The kind of data you’ll be uploading to your VDR will determine what features you need for, including granular user access and two-factor authentication. Find out if the application you’re looking at is compatible with any other applications your company uses. This can save time and effort if you are in a position to integrate your VDR with tools such as Salesforce or Slack.
When choosing the right VDR You should consider the number of users you will have accessing the platform as and how much storage you’ll need. Some of the older providers charge per page, which could quickly overrun your budget. You can also choose 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 instance, iDeals and Securedocs are suitable for small and medium-sized companies and feature simple, intuitive interfaces. They are ISO-compliant and provide transparent pricing, without the need for hidden charges or contracts.
