4 Features to Look For In Virtual Data Room Providers

If you are looking for virtual data room providers, then you already know that VDRs are another form of file storage where you can manage and share your data in a safe way. It is especially useful when it comes to storing and sharing sensitive client information, confidential material and financial documents. Having Virtual data room for your business makes sure that your data is always protected and will never fall in the wrong hands. But when it comes to choosing a virtual data room provider you will see that there are a lot of options available out there, and it can be confusing to choose the right one. In this article I have mentioned a few features that you should look for when hiring a virtual data room provider; let’s take a look:

 

Strong Security

The main reason for which people go for virtual data rooms is security, so it is only sensible that you double-check it. Ask your Electronic Data Room Provider what kind of security their virtual data room provides and what are the additional features that set them apart. A good VDR company will offer you security features like 256b or 128 data encryption, data backups, watermarks, SAS certification, Audit logs, and different access levels. Also, you must make sure that they are providing the additional features your business needs. For example, if you want to set up two-factor authentication for better security, then you may ask it if they can add that feature too.

 

Simple User Interface

Software for running a virtual data room has too many functions and commands on it, which can get complicated at times. If your employees are dealing with complex software with a confusing user interface, then their productivity will drop dramatically as they will be wasting their time navigating through the software. That is why it is highly recommended that you take a good look at the software before finalizing a virtual data room provider. The software must have an easy to use interface, and yet it should not lose any of its functions. Small things like bulk uploading and drag and drop feature can make a huge difference.

 

Pricing

The next thing you need to look for is the pricing structure. Now here, you need to make sure that you are choosing a plan that is suitable for your business. Also, if you are sure that you are going to stick with the data room for a long time, then pay for the subscription annually instead of monthly as it can save you a good amount of money. Also, ask them beforehand if there are any additional fees, so you don’t get any surprises in the future.

 

Client Support

No matter what kind of digital tool you are using and how good it’s quality is, you will face glitches and errors at times. The same is the case with virtual data rooms, you will need technical support every now and then, and that is why you need to make sure that the provider you are hiring offers 24×7 client support. You don’t want to lose access to your data in the middle of the day and out that you are having trouble contacting the provider.

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.