Virtual Data Room

Everything you need to know about data rooms, including how they work, use-cases, and how to choose the right VDR provider.

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What is a Virtual Data Room?

Virtual Data Rooms (VDRs) are secure online repositories where businesses can store, share, and manage their critical data.

Whether you’re conducting due diligence for an M&A transaction, raising funds for your startup, or simply organizing your company’s proprietary information, sensitive data is at stake. As the volume of this data grows, securing confidential information becomes more critical.

Here is How Our Virtual Data Room Works

Digify’s data room is a great option for businesses and organizations seeking a secure, user-friendly platform for confidential document sharing, collaboration and information control.

Digify’s data room offers robust security features, a user-friendly interface, granular control over document access, and additional functionalities such as dynamic watermarking and comprehensive tracking.

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virtual data room security

Enhanced Security

Digify prioritizes document security with features like encryption, dynamic watermarking, and screen shield. All files are encrypted with AES-256 envelope encryption. Our AWS hosting infrastructure is certified for ISO27001, SOC, FedRAMP, FIPS, PCI DSS Level 1, and many more. These measures ensure that confidential information remains protected and accessible only to authorized individuals, reducing the risk of data breaches or unauthorized sharing.

Easy-to-Use Interface

Digify’s data room is designed with a user-friendly interface, allowing users to quickly navigate and utilize the platform without extensive training or technical expertise. The intuitive interface promotes user adoption and efficiency, greatly simplifying the document sharing process.

virtual data room interface
virtual data room granular permission

Granular Access Controls

Digify offers granular access controls, allowing administrators to define specific permissions for each user or user group. This level of control ensures that documents are only accessible to authorized individuals, and the right amount of flexibility required during collaborative processes.

Comprehensive Tracking and Analytics

Digify’s data room allows you to monitor the recipients accessing your files and data rooms, as well as the frequency, duration, and location of access. This helps you to gauge interest levels and follow up with them at the right time.

virtual data room tracking
dynamic watermark

Dynamic Watermarking

Digify’s unique dynamic watermarking feature adds personalized watermarks to each document such as recipients’ email, IP address to discourage unauthorized sharing and increasing traceability. This feature helps protect sensitive information and enhances security, making it easier to identify potential leaks or unauthorized usage.

Secure Document Viewer

Our secure document viewer that enables users to preview documents without the need for downloading or exposing the file to potential risks. This feature enhances security by reducing the risk of unauthorized copying or distribution while still allowing users to review the contents of the document.

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virtual data room branding

Advanced Branding Options

Digify’s data room allows you to present a more professional and credible image – you can add a personal touch to your data rooms with your logo, brand colors, avatars, and white-labeled URLs.

Easy Import from Cloud Storage

Digify’s data room offers seamless import from storage platforms such as Google Drive, One drive, Dropbox, and Box. Once they have been imported they can be secured with Digify.
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Virtual Data Room (VDR) Use Cases

Industries that Use Virtual Data Rooms (VDRs)

Virtual Data Room vs Cloud Storage

VDRs are purpose-built platforms specifically designed for secure document sharing, due diligence, and confidential transactions. Their features include enhanced security, advanced document organization capabilities, and compliance adherence.

On the other hand, cloud storage platforms like Dropbox and Google Drive are more general file storage solutions. While they offer file sharing and collaboration features, they may not provide the same level of security, compliance, or specialized functionality required for sensitive information.

Compliance and Regulatory Standards

VDRs: VDRs often adhere to compliance standards, such as ISO certifications, HIPAA compliance. They prioritize meeting rigorous security and data protection requirements, making them suitable for transactions that involve sensitive information.

Cloud Storage: Cloud storage platforms generally offer a more generalized approach to data storage and may not provide the same level of compliance adherence as VDRs. While they may comply with certain security standards, they may not offer specialized features that cater to specific regulatory requirements.

Collaboration and Communication

VDRs: VDRs offer collaboration features specifically designed for secure document sharing and communication. They often provide Q&A functionality, notifications, and secure communication channels within the platform, facilitating seamless collaboration among multiple parties involved in a transaction.

Cloud Storage: Cloud storage platforms allow users to share files and collaborate on documents, but they may not provide specific collaboration features for confidential transactions.

Security and Data Protection

VDRs: VDRs are designed with enhanced security features specifically tailored for secure document sharing. They often employ advanced encryption, multi-factor authentication, granular access controls, and audit trails to ensure the confidentiality and integrity of shared information.

Cloud Storage: While cloud storage platforms offer some security features, they may not provide the same level of security measures and compliance standards as VDRs. Cloud storage platforms may not offer features such as granular access controls or comprehensive audit trails, which are critical for highly confidential transactions.

Document Organization and Management

VDRs: VDRs are purpose-built platforms that provide sophisticated document organization and management capabilities. They offer folder structures, version control, and indexing features, which facilitate easy navigation and efficient document retrieval during due diligence processes.

Cloud Storage: Cloud storage platforms also offer document organization features, but they are typically designed for personal or general file storage. While they may provide folder structures and basic file management capabilities, they may not offer advanced features tailored specifically for due diligence processes.

Virtual Data Room (VDR) Checklist

This checklist will help you navigate the VDR landscape and help you select a VDR vendor based on your needs.

Some common virtual data room use cases include:

  • M&A Due Diligence
  • Fundraising
  • IP Protection
  • Communication

Depending on your use case, you might require additional features such as document tracking and analytics, watermarking, advanced branding options, Q&A etc.

Will it be used internally, or will external parties like investors, lawyers, or partners also need access?

Depending on the technical capabilities of both your users and recipients, you might want to prioritize ease-of-use and recipient experience. Get the end users to also experience the software during the free trial.

You should pay close attention to the pricing of your virtual data room provider for the following red flags:

  • Costly Add-Ons
  • Opaque Pricing
  • Bundling Unnecessary Features

Don’t forget to check out what real users are saying about their virtual data room providers. Here, you can turn to trustworthy platforms that have a reputation for hosting genuine customer feedback. Review sites such as Capterra and G2 have specific data room categories for checking reviews.

This is a great opportunity to experience the software firsthand and validate whether it truly aligns with your needs, as well as to evaluate the quality of the customer support you’ll be getting after purchase. You should pay attention to the following:

  • How easy is it to use? Does it feel intuitive?
  • How quickly does the team respond to your questions or issues?
  • Can they clearly explain how to use the product or resolve issues?
  • How quickly are your issues resolved?

You should be ready to shortlist 3-4 vendors and finalize your VDR vendor. You can do a proper comparison using the following factors. 

  • Does the VDR vendor have all the features that you require?
  • Cost of VDR (ROI for VDR spend)
  • Vendor reviews on G2 and Capterra
  • Product experience during free trial
  • Customer support

Experience Our Virtual Data Room Today

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