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How to Select the Best VDR Providers

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A virtual dataroom is beneficial in a variety of business scenarios. It could be used by executives at the C-level to share data with service providers, investors or other companies. It can also be used by HR departments to manage employee records or project managers who are involved in different aspects of business. A VDR that is secure and has the right measures in place can help to speed up a transaction and stop any misuse.

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

When selecting a VDR provider, you must take into consideration how many users will be accessing the platform and how much storage space you’ll require. Some older providers charge per page, which can quickly outstrip your budget. Other options are per user, or a flat 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 instance, iDeals and Securedocs are suitable for small and medium-sized businesses and have simple and intuitive interfaces. They’re also ISO compliant and provide clear pricing without hidden costs or contracts.

nicvosHow to Select the Best VDR Providers