Whether you’re conducting due diligence on an investment or negotiating with manufacturing partners, or managing other business transactions, a virtual data room can help you exchange sensitive files securely. It’s important to select a service that can handle huge volumes of files and also offers the necessary tools for efficient organization and project management. Look for features that let you organize your data into folders or subfolders, making it easier to locate information. A feature for indexing files can also be useful in rearranging files for sequential viewing.
A reputable virtual dataroom should also include security measures, such as granular access authorizations and two-factor authentication. It could also include time and IP restrictions in order to prevent leaks of data. Some providers offer extra security features such as data loss protection using encrypted uploads of files. Some offer a custom NDA and a robust, watermark set that can be customized to show names of organizations, IP addresses or other information.
Additionally, choose a provider that provides user-friendly software that’s scalable for future business needs. Startups, in particular, have limited IT resources. They need to choose a solution that is easy to use and can easily be integrated into existing workflows. You should search for a vendor that offers 24 hour customer support via email, live chat and phone. iDeals offers support in over 10 languages, for example. Focus on the user feedback from various review platforms when you are reviewing vendors. You’ll want to look through reviews that detail how each solution handles high-volume documents, and how responsive and responsive the customer support team is.