Virtual Data Room is an online space for secure document storage that has replaced the old physical storage. The physical rooms were huge, employees and security were hired, owners came there to do transactions, and it was all very resource-intensive. Now that all that activity has been digitized, the costs have gone down dramatically, and the security and efficiency of the transactions have improved. Now there are a lot of VDR providers on the market, but how do you choose the one that’s perfect for you? In this article, we’ll tell you what to look for when choosing your VDR.
Know your needs
When companies are searching for any software, they face the same problem – there is an enormous choice. The most important thing is not to lose your head, not to be fooled by high ratings or good reviews, because even though VDR may offer quality services, it may not have what you need specifically for your business.
You need to decide what your company does, what its priorities are, and what it needs to improve its performance. Maybe the most important thing for you is the convenience of closing a deal, or you are preparing for the M&A process, then you need a VDR that is more focused on providing services for transactions. It’s all very specific, although the basic functions of any VDR are the same, their additional offerings are different and that’s what’s important to consider.
Make sure you have the quality of its protection
The main reason for replacing physical storage with webspace was to improve the quality of its protection. In the past, data leaks were much more common, which undermined the enterprise and they lost a lot of money.
It’s much easier to break into a physical building than to find a weak spot in a line of special code, and you should always take into account the human factor that makes mistakes much more often than the program.
Companies are most concerned about the security of their confidential data, so they need a data room ready to provide reliable protection. Before you purchase an online space be sure to pay attention to the security features it provides, with quality VDRs you are sure to find several of the factors listed below:
- Modern data encryption methods
- Advanced security certification
- Document verification feature
- Activity tracking features within the program
- Dynamic watermarks
- Document access control, no printing, copying, etc.
- Function to set a deadline on a document
- Role-based access control
Of course, data room security is above all, but what good is it if you find the program interface cumbersome and incomprehensible? If the interface is uncomfortable, users may take more than a week to get used to it, not to mention short-term users. So it can’t speed up your processes, and it may even increase the risk of you making a mistake in some aspects.
You need to find a data room virtual brasil, which will offer you the clearest and simple interface. Such VDRs typically offer automation of some workflows, question-and-answer functions for easy interaction between parties, flexibility, and integration with multiple devices, and multilingual support.
Your best solution, in this case, is to request a demonstration from the provider so that you can see with your own eyes and decide whether this product meets your needs or not.