Is a VDRM Right For Your Business?

VDRs (also known as electronic data rooms or virtual deal rooms) are online storage facilities that allow companies to securely share documents for any kind of business transaction. They eliminate the need for physical documents and permit users to share important business information with many parties at once. VDRs are crucial for investment banking processes such as IPOs, M&A and capital raising.

VDRMs also come in handy for executives at the top of the pyramid who need to share confidential files and information with service providers, potential investors, or any other external entities, HR departments responsible for maintaining employee records, and any number of project managers http://www.dataroomit.com involved in various business tasks. VDRs facilitate a smooth document sharing procedure and rigorous security measures to ensure that confidential data is not slipped into the wrong hands.

A common pricing model is based on a fixed amount of storage space per month or year which makes it ideal for smaller projects where you know how much documents and data you’ll need to store and access. This pricing model is best suited for businesses that don’t plan to exchange large audio or video files.

Other pricing models include a flat-fee or subscription-based models. Free file-sharing services, like Google Drive or Dropbox, provide basic security functions, but they are far behind the features of dedicated paid VDRs. Specialized paid VDRs, like iDeals, SecureDocs, and Dealroom offer a variety of security features that make them more suitable for advanced document sharing.