Comparison of VDR providers is a nitty-gritty process and there are many variables to consider when choosing the best VDR vendor for a particular deal or project. Some key areas to consider include security, storage and collaboration capabilities. VDRs also employ a variety of pricing models. Legacy providers, which are long-established firms that started as printing services for the financial sector, and then changed to digital media, use a pricing model dependent on the number of pages. This pricing model can be costly and difficult to comprehend. Generic file-sharing can be cheaper, but comes with its own set of limitations. These include a lack professional support during non-business hours and the limited reporting and tracking capabilities.
Security is a crucial aspect of any online repository and the top VDR providers provide a wide variety of security features to safeguard sensitive information. Look for two-factor authentication with timed expiration of access, password complexity and change requirements, IP address restrictions, and audit trails that provide comprehensive insights into the activities of documents. Also look for internationally recognized standards such as ISO/IEC 27001, SOC 2 GDPR, and HIPAA.
Many top providers add additional services into their core VDR offering. These services may include helpdesk, training as well as onboarding and support functions. It’s recommended to explore these options when evaluating prospective vendors, but keep in mind that some of these options may be unnecessary to meet your specific requirements.