Virtual data rooms offer users with a safe platform to upload, save and manage multiple files. This software is ideal for companies that must manage sensitive files and perform frequent transfer of files. However, it’s important to conduct your research and select a VDR provider that offers the right features to match your specific business needs. You should also look at the pricing options offered by a provider. Some vendors offer a flat rate for their services whereas others charge per page or per user.
The best VDR solution is essential to ensuring your transactions and projects go smoothly and produce a positive result. The VDR software that is best suited to your requirements will help everyone to collaborate and look over documents, regardless of whether you’re working on an M&A transaction, a real estate deal or fundraising.
The main features that a VDR should include are two-factor authentication and timed access expiration and specific permission levels. 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 reputable VDR will also have security certifications such as ISO 27001, SOC 1 & 2 and GDPR.
The VDR solution must also offer 24/7 customer support. The top providers will offer support via email, telephone and tickets, as well as allow you to have a dedicated team to assist you throughout the course of your project.