Is a VDRM Right For Your Business?

VDRs (also called 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 remove the requirement for physical documents and allow users to share important business information with many parties at once. VDRs are essential for investment banking processes like IPOs, M&A and capital raising.

VDRMs can also be useful for C-level executives who have to share confidential documents and data with service providers, potential investors or other external entities, HR departments responsible to maintain employee records and any number of project managers involved in various business activities. VDRs offer a streamlined document sharing process and strict security measures to ensure sensitive data is not slipped into the wrong hands.

A common pricing model is based on a set amount of storage space per year or month, 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 companies that do not plan to trade large video or audio files.

Other pricing models include a flat rate or subscription-based models. While free file-sharing services, such as Google Drive and Dropbox, provide basic security features but they’re far from offering the full range of the features offered by dedicated paid VDRs. Specialized paid VDRs such as iDeals SecureDocs and Dealroom provide a range of security features that make them more suitable for sophisticated document-sharing.

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