VDR providers are virtual data rooms that offer cloud storage as well as file-sharing capabilities. They are utilized when the security of client or proprietary information, or sensitive information, is essential. Companies that deal with confidential files like financial institutions, legal firms and tech companies benefit from the security of document storage and sharing of VDRs. VDRs can help in fundraising for new ventures more efficient, since all interested parties can access the relevant documentation through just one link.
When deciding on a VDR provider, you should consider the size of your business and the number of users you’re planning to invite to the project. Choose a VDR provider that can handle the number of participants and file sizes and provides pricing options, including pay-perview and pay per-page storage. Also, look for features that allow you to personalize your user experience. Based on the industry and type of project, some companies may include industry-specific functionality while others have all-purpose features.
When choosing a VDR pick a service that has an interface for users that is intuitive and robust. A simple configuration should be a breeze to the CFO as well as accountants who are just beginning their careers. Make sure that it is integrated with tools that are already in use, such as Microsoft Office 365, Slack and Salesforce. Be sure that the user-friendly interface has a naming system to boost organization and efficiency.
Choosing the right VDR service will ultimately save your company time and money. Be sure to select one with customer service that is accessible all hours of the day. Ideally, the VDR provider will offer live chat and phone support, so that you can contact someone immediately. You can also research online reviews and the reputation of the employees of the company on third-party websites.