How to Select the Best VDR Providers

A virtual data room can aid in many business situations, whether it’s for executives at the C-level sharing data with service providers, potential investors or companies from outside HR departments that manage employee records, or even 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 stop any misuse.

The type of data you’ll be uploading to your VDR will determine what features you require for, like granular user permissions as well as two-factor authentication. Find out if the application you’re looking at is compatible with any other applications that your business utilizes. This can save time and effort if in a position to integrate your VDR with tools such as Salesforce or Slack.

When selecting the right VDR, you should consider how many users you will have accessing the platform as well as how much storage you’ll need. For instance, a few older providers still charge per page that can quickly add up and exceed your budget. Other options are per user or a set monthly fee.

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 businesses and have simple and intuitive interfaces. They’re also ISO certified and provide transparent pricing without hidden costs or contracts.

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