Comparing Data Rooms

A virtual data room (VDR) is an online repository to share documents. It lets users securely store and review sensitive data while securing themselves from scrutiny. VDRs are commonly used in M&A deals where buyers need to access large volumes of confidential documents as part of the due diligence process. Prior to using a VDR the documents were physically transferred from one office to the next in a lengthy process that could require months for all bidders to finish their review.

When choosing a data room when comparing data rooms, be aware of the security features provided by each solution. Take into consideration features such as two-factor authentication and timed access expiration. You can also limit access based on IP address. Check the compliance certifications of the provider to be sure they are up to the highest security standards.

You should also compare the additional services that each VDR solution provides. Some providers include training and consulting as part of their services. This could be a huge advantage for certain businesses, particularly those who are new to the concept of VDRs.

A consideration to make is the pricing structure. Some vendors offer a flat cost for the use of their VDR while others charge for complicated or custom features. Before you choose a service provider ensure that you know what you want from them. This will save you from paying for features you won’t need.