How to Choose the Best Virtual Data Rooms

Businesses require a virtual dataroom (VDR) to guard sensitive information from leaks when storing and sharing files. Online VDR providers offer an option that can be utilized by all types of businesses from small start-ups to large enterprises.

The best virtual datarooms are easy to use and secure. They also offer additional services such as training or consulting. These services are typically offered at a discount by many vendors when bought with their VDR.

To choose the right online VDR first, you need to determine what your company’s needs. Take into consideration the size of your project or transaction as well as the volume of documents that will be stored. For instance, large corporations require a broad range of document management features, while smaller firms may only need the basics.

Some VDR providers provide special services that could be useful in a particular transaction, for example, AiQ bidder engagement or due diligence Q&A sections. Some VDR providers have larger scope and can be utilized for any type of project. For instance, iDeals offers a robust range of business tools as well as security features like audit trail reporting, two-step authentication, and fence view feature.

Look at the security certificates that a provider has received. Check for ISO 27001, SSAE 16 and SOC 2 certifications. Also, check if there is a demo version or a free trial version. A good virtual dataroom should have a trial version available so that you can test the software before you commit to.