Security of data is vital when working with sensitive documents for business. While many opt for free file sharing options like Dropbox or Google Drive, these do not protect your information from hacking and other potential threats. If you’re a lawyer, accountant or immovable property broker any other professional the online data room is a fantastic option to ensure that your confidential files are protected from scrutiny. Virtual data rooms can also simplify core processes and transactions.

There are a myriad of features that you must look for when selecting a virtual space. Among the most common features is the ability to upload multiple files, dynamic watermarking for preventing duplicates and sharing that are not needed and a clear permission hierarchy. You should also look for a data room that is able to be easily integrated with CRM software and other programs to improve efficiency.

The pricing structure of a vendor is an additional aspect to be considered. Some common pricing models include per-storage and per-page as well as per-user. You should also determine if the provider provides a free trial or no-obligation demo for you to try out their software and determine if it meets your requirements.

Once you have narrowed your choices it’s time to pick. There are a myriad of providers on the market and it’s important to take your time comparing each one. Some websites provide an overview of the services each provider has to offer and makes it easier to compare your choices.