Many companies need to share sensitive data with outside experts or employees, whether that’s lawyers reviewing contracts accounting firms conducting audits or compliance auditors looking for leaks in data. In these scenarios virtual data rooms (VDRs) can help protect sensitive data while providing a secure platform for the sharing of information. The best VDR providers provide multiple options, pricing points, and security solutions that can be tested during free trials offered by many vendors in the market.
When choosing a VDR, the most important aspect to consider is the level of security. Choose a vendor that provides a variety of security certifications, including FedRAMP, FINRA, HIPAA and GDPR. Additionally, ensure that the VDR has document processing capabilities that recognize text in various file formats. It can also convert PDFs to searchable documents.
Accessibility of the VDR across various operating systems is an additional aspect to take into account. Modern platforms should be compatible with iOS and Android smartphones, Windows or macOS desktops as well as Linux servers. It should also offer options for data hosting sites and physical storage.
If you’re in the market for a VDR provider, make sure to check its reviews from both external and internal sources. Look for a provider with an extensive track record in the industry, and a significant number of favorable reviews on third-party platforms, such as Trustpilot or Software Advice. Also, ensure that you review employee reviews on sites such as Glassdoor. They will give you an idea of a company’s culture and ethics.