Once something of a niche and rare service provision, the virtual data room is slowly but surely becoming the new standard for tens of thousands of contemporary businesses. According to the team behind www.projectfusion.com, interest in VDR service provision has spiked dramatically over recent years and the trend is expected to continue indefinitely. As the world continues its progress into an era where data security threats are more abundant and complicated than they’ve ever been, the highest-quality data storage and management services have never been more relevant.
Unsurprisingly, therefore, the number of VDR service providers and specific products/packages on the market has also exploded over the last couple of years. Competition in the market has driven prices down to all-time lows and generally worked wonders for quality standards, though, has at the same time made it difficult for some to know even where to start looking.
So with literally thousands of different products and services to choose from, what kinds of criteria should the modern business be considered before selecting the ideal virtual data room service package?
1 – Security
Well, topping the list absolutely is security – as in the level of security offered to protect your files and data. High-level security is the very reason the VDR exists as if security wasn’t a concern, it would be fine to use the free of charge generic file sharing programs offered by Google and Co. But of course, this isn’t the case at all, which is why it’s of the utmost importance to not simply assume that the VDR package you’re looking at offers top-level security, but to look deeply into the issue and ask all the right questions.
2 – Round the Clock Access
There is still a great many virtual data room service on the market today that offer access during specific weekly hours and are somewhat restricted during others. Of course, whether or not you actually need 24/7 access will be determined by the needs and specifics of your business in general. Nevertheless, as you never know when you may need to gain access to your data and documents at short notice, it’s a good idea to ensure that the package you choose does indeed guarantee 24/7 access.
3 – Customer Support Service
Speaking of 24/7, it’s also never a good idea to blindly fall into the assumption that the customer service package on offer will be provided at all times of the day and night, seven days a week. If you are in a business area where a sudden and total collapse of your data/document management system at 2am would spell disaster, the idea of not being able to contact customer support until 8am is of course unthinkable. Pretty much every VDR service provider on the market today has a very different take on what customer service really means, so once again – don’t make any blind assumptions.
4 – User Friendliness
It’s one of the most important considerations of all, yet also tends to be one that’s overlooked with quite alarming regularity. It’s one thing to have a fantastically capable, powerful and technologically advanced VDR system up and running – it’s something else entirely to actually know how to use it. The differences from one system to the next in terms of complexity and usability really are night and day. So rather than just buying into all the features and fabulous functionalities in the world, don’t forget to at least consider user-friendliness.
5 – Setup/Transition
In a similar vein, be sure to check out exactly what the service provider has to say with regards to the setup and transition process. The reason being that while some systems have been designed to ensure the fastest, simplest and most efficient setup processes, others seem to take an eternity to get up and running. Suffice to say, any kinds of slowdowns or temporary breaks in service will do your business as a whole no good whatsoever, so it’s a good idea to bear this in mind.
6 – Costs
Last but not least, it’s important to remember that costs are all relative as it’s the overall value for money and ROI that matter most of all. Just as there’s nothing to gain by needlessly overpaying for an OTT system the likes of which you’ll never use even 20% off, it’s also wise to steer clear of any deals that appear far too good to be true. The most advanced VDR systems and service packages on the market are created using spectacularly advanced technology and hardware in the hands of elite professionals. Suffice to say, therefore, when a VDR package is practically being given away for free, proceed with extreme caution.