There are many situations in which external parties must review the company’s records, particularly in an adversarial or competitive context. These are typically accountants or legal counsel who must review documents remotely and quickly. Moreover, companies need to share sensitive information with partners and affiliates. A virtual dataroom (VDR) provides a secure and efficient way to share files. Choosing the right VDR for these scenarios is crucial.
When comparing different VDR providers, look at the services they offer. Select a vendor that has an intuitive configuration as well as a powerful search engine. They should also have a robust backup system and support for multiple languages. This will ensure that the platform will meet the needs of your team and the project.
Also, think about how much the vendor will charge you for the services it provides. Some vendors utilize a per-storage pricing model, which can be expensive for large projects. Others use an individual-page pricing model which can be a hassle for projects that have undetermined numbers of text documents.
It is important to choose the vendor that provides an opportunity to test the software for free. It allows you to test the software and test its limitations before signing up to a plan. A majority of the most reputable VDR providers offer this service to their clients. A free trial will give you the opportunity to see how it’s easy to create an electronic data room and communicate with other users. Most of the top vendors offer a Q&A section and various contact channels.