A virtual dataroom can be useful in a variety business scenarios. It can be utilized by executives at the top of the chain to share information with service providers, investors, or external companies. It can be used by HR departments to manage employee records or project managers who are involved in different aspects of operation. Whatever the reason the need for a VDR with a strict security system already in place can help simplify a transaction and stop any misappropriation of information.
The type of data you’re planning to upload will determine which features you require like two-factor authentication or granular permissions. You should also determine if the software is compatible with other software your company uses, as you’ll typically save time and effort by integrating your VDR with other tools such as Salesforce or Slack.
When selecting when choosing a VDR You should consider how many users you will have accessing the platform, as and how much storage you’ll need. Some legacy 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. iDeals for instance, and Securedocs, both have intuitive easy interfaces that are suitable for small and medium-sized businesses. They’re also ISO compliant and offer transparent pricing, with no hidden charges or contracts.
