A virtual dataroom is useful in a variety business scenarios. It could be utilized by executives at the C-level to share data with investors, service providers or even external companies. It can also be used by HR departments to manage employee records or project managers who are involved in various aspects of business. A VDR that has strict security measures in place will allow to streamline a transaction, and stop any misuse.

The kind of data you’ll be uploading to your VDR will influence what features you need for, like granular user permissions as well as two-factor authentication. Make sure the software you’re looking at is compatible with other applications that your company utilizes. This can save time and effort if you’re capable of integrating your VDR with tools like Salesforce or Slack.

When selecting when choosing a VDR provider, be aware of how many users are going to be utilizing the platform and how much storage space you’ll require. For instance, a few older providers still charge by per page prices which could quickly add up and exceed your budget. Other options are per user or a set 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, intuitive interfaces. They’re also ISO certified and provide transparent pricing without hidden costs or contracts.

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