VDR providers are virtual data rooms that provide cloud storage and file-sharing features. They are employed in business settings where security of sensitive, proprietary or client information is important. VDRs are an excellent option for companies that deal with confidential data like law firms, financial institutions and technology companies. VDRs can also make fundraising for new ventures simpler, since all interested parties can access the relevant documents via a single link.
Think about the size of your company and the number users you’re planning to invite on a project when selecting the right VDR. Select a VDR provider that is able to handle the number of participants and file sizes, and provides pricing options, including pay-per-view or pay-per-page storage. Also, you should look for a set of features that permit you to modify the user experience. Depending on the sector and type of project, some companies may include industry-specific functionality while others provide all-purpose capabilities.
When selecting a VDR pick a service with a user interface that is intuitive and robust. A streamlined configuration should be easily understood by the CFO and entry level accountants. Examine integration with existing tools like Microsoft Office 365, Slack and Salesforce. Be sure that the user-friendly interface includes the option of naming systems to increase organization and efficiency.
Choosing the right VDR service will ultimately save your company money and time. Ensure that you select a company with customer service that is accessible 24/7. Ideally the VDR provider should offer live chat and telephone support, so that you can chat with someone instantly. You should also review online (with taking a pinch of salt) and check the reputation of the employees’ on third-party websites.