How to Select the Best VDR Providers

A virtual data room can be beneficial in various business scenarios, whether it's for executives at the highest level sharing data with service providers, prospective investors or external firms HR departments that manage employee records, or even project managers involved in various aspects of operation. Whatever the reason the need for a VDR that has strict security measures already in place can help streamline a transaction and avoid any misappropriation of information.

The type of data that you'll uploading to your VDR will determine the features you need, such as granular user permissions and two-factor authentication. You should also determine if the software is compatible with other applications that your company uses, since you'll often save time and effort by unifying your VDR with other tools such as Salesforce or Slack.

When selecting the right VDR it is important to consider how many users will be able to access the platform, as in addition to the amount of storage you'll require. Some older providers charge per page, which could quickly exceed your budget. Other options are per user or a flat 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. iDeals, for example and Securedocs both feature intuitive, simple interfaces and are ideal for small- and medium-sized companies. They're ISO conforming and offer transparent pricing with no hidden fees or contracts.