Virtual Data Room Providers Comparison
Comparison of VDR providers is a complex process, and there are a myriad of factors that go into selecting the right VDR vendor for a particular project or deal. Security, storage, and collaboration are among the key areas to consider. VDRs also utilize a variety pricing models. Legacy providers, which are long-established firms that started as financial printing services and then changed to digital media, use a pricing model that is based on the number of pages. This model can be expensive and confusing to comprehend. Generic file-sharing service are typically cheaper, but come with their own set of limitations, including the absence of professional support during off hours and insufficient capabilities for document tracking and reporting.
Security is an essential element of any online repository. The most reliable VDR providers offer a range of security features that safeguard sensitive information. Consider features like two-factor authentication and timed expiration of access to passwords, requirements for complexity of passwords and modifications, IP address restrictions and audit trails to gain detailed information about the activities of documents. Also, look for international-recognized compliance standards like ISO/IEC 27001, SOC 2 GDPR, and HIPAA.
A robust support function is also a must and many leading providers bundle several additional services in their core VDR offerings. These include helpdesk, training as well as onboarding and support functions. It’s a good idea to look into these options when you are evaluating prospective vendors, but keep in mind that some of these services may not be appropriate for your specific needs.
