By now, you have probably discovered that virtual data rooms are essential for any business that wishes to increase its production and services. Virtual data rooms are also more preferable to other online file-sharing services because of their security and convenience. However, you will come across several data room providers in your search for the best virtual data room. Here is how to find a reputable global data room provider on the web.
- Security. While most people consider security a “normal” inclusion in virtual data rooms, it is worth mentioning. After all, your business documents are susceptible, and you wouldn’t want them landing in the wrong hands. As such, you will need a provider that offers security features such as 128 or 256 data encryption, audit logs, dynamic watermarks, or two-factor authentication. Also, ensure that your provider has the specific features that are important to you.
- Ease of Use. Complicated virtual data rooms can affect efficiency or cause delays. A few years ago, virtual data rooms were clunky and challenging to access. However, the number of data rooms providers has increased, and so has the usability and overall ease of use. Always look for easy-to-use features in your virtual data room. Some of the elements to consider include bulk upload, drag-and-drop tools, automatic logging, and web-based access. The implementation process should also be easy. Choose a provider who offers a free trial period so you can feel how easy or difficult it is to use the virtual data room.
- Pricing. Look for a provider who has a flexible pricing structure, and that makes sense for your business. Watch out for any additional fees like extra storage, features, or additional users. Besides the monthly payment, find out the total cost after all is said and done. Also, ensure you know the ongoing fees should you decide to keep using the data room after the trial period expires.
- Customer Support. Technical support is vital for the operation of your virtual data room. Consider the type of support your provider offers, whether you can talk to an actual person or whether it costs extra for unlimited support. Since you want to secure your most valuable business documents, it only makes sense that you can reach someone when a problem occurs or you have a question. You can also look for instructional videos to understand the training included with your data room.
- Online Reviews. What other customers are saying about your potential virtual data room is essential. Every data room provider will tell you that they are the best. Reading about other people’s experiences with the data room will help you make an informed decision. However, be careful because some providers create dummy review sites to make them look perfect. If something seems too good to be true, avoid that provider.
Not all data rooms will fit the requirements of your business. Research your options and take advantage of the free trial periods to get the best possible fit.