How to Compare Virtual Data Room Providers

Comparing virtual data rooms to find out which features are the most important to your team. This is especially important for those who are involved in sensitive projects requiring simplified document sharing and due diligence.

A solid security suite is a further consideration when selecting a service. You should look for options that include dynamic watermarks, locks to IP and the capability to deprive access remotely after documents have been downloaded by users. These security measures ensure intellectual property is protected during due diligence as well as other important transaction phases.

Finally, you should examine pricing structures prior to selecting the best provider. Many VDRs have different prices based on the number or users, or the storage capacity. Some providers charge per page or per user, whereas others charge a flat cost per month. A monthly recurring charge is usually the best option, as it eliminates any charges for overage. Some providers also offer an option for pricing on storage size that is based upon the amount of data stored in the VDR and could be a viable option for those who are exchanging mostly small text files.

Certain VDRs also provide granular analytics on all documents, users and activity within the data room. This is advantageous from a security perspective and also assists with managing projects by giving teams an overview of their storage usage. Other factors to consider when looking at data rooms include view-only access to documents, document annotation and a user-friendly interface and integration with popular platforms.

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