With help of Virtual data rooms you can save time and money because user interfaces are very quick to build and you can run it immediately and start your secure data sharing with your users. In VDR some functions are so easy you just have to drag and drop your data and documents with built in electronic signature.
Most virtual data room providers offer paid service, some of them also provide free service for a few weeks then if you like the service you have to pay for that. But before buying any service you have to check that virtual data rooms include some necessary and basic things.
11 Basic Things to Know Before Buying a Virtual Data Room
- Electronic signature included
- Unlimited users and unlimited documents
- Free data room archiving upon completion
- Free implementation and 24/7 support
- Indexing Bulk upload/download
- Permission-based user roles (including view only, no printing)
- Customizable NDA
- Audit log
- Two-factor authentication
- Privacy blind
1 Common question comes to everyone’s mind who wants to purchase a virtual data room.
Why would I pay for a virtual data room instead of using free Google drive or Dropbox?
Dropbox Google and Virtual Data rooms are built for totally different purposes.
When you want to send out data or public information to huge groups of people then Google Drive and Dropbox is perfect. It is amazingly useful to spread material quickly at no cost. In short here it’s very easy to share data, documents and photos.
However when it comes about sharing or storing sensitive and confidential information (cap reports, client lists, financial records, employee personal records and other documents of company) that need to be kept secure and not be open for publicly for the company’s or client safety. And in this scenario virtual data rooms are must. It’s not feasible to store data on cloud storage. So for security, compatibility, reliability there is no other option then VDR.
Dropbox and other free cloud storage security levels do not guarantee privacy and protection for your data. These systems were not built for properly organizing and controlling data and limited access for users. So it’s hard to track which user has access to which data.
While you want to store very confidential documents and don’t want to be accessed by the wrong people who can be harmful for a company and clients. So, if you want safety, security and access control for your critical data then choose Virtual data room.