Virtual data room providers provide users a safe platform where they can upload, save and manage multiple files. This software is beneficial for businesses that have frequent sensitive file transfers that require specialist management tools. It is essential to research and select a VDR with the features you need. In addition, you must also consider the pricing options of a service. While the majority of vendors charge a flat rate for their services however, some offer per-page upload fees or per-user pricing models.
Choosing the right VDR software solution is a crucial step in ensuring that your critical projects and transactions are executed with no hiccups, and an outcome that is successful. The VDR software that best suits your needs will help all to work together and share documents, regardless of whether you’re working on an M&A transaction, fundraising project or real estate transaction.
The main features that a VDR should have include two-factor authentication, timed access expiration, and the ability to set permission levels in granular ways. It’s also a good idea to look for a VDR that provides redaction, which blacks out portions of a document to protect personally-identifiable information. A good VDR must also be secure with certifications such as ISO 27001, SOC 1 & 2 and GDPR.
The VDR solution must also offer 24/7 customer support. The top providers will provide assistance via email, phone, and tickets, as well as let you have a dedicated team of experts to help you throughout the course of your project.