8 March, 2023

Whether you're in the process of licensing, fundraising, or performing due diligence for a merger or acquisition, virtual data room providers supply an easy-to-use and cost-effective solution. At ShareVault, our virtual data rooms allow one party to securely share documents with another party in a secure cloud-based document repository. In a virtual data room, files can be uploaded and organized by administrators and securely viewed by approved users.

Why Invest in a Virtual Data Room?

Virtual data rooms provide many advantages that physical data rooms and other file-sharing services do not. Virtual data rooms provide an efficient, and cost-effective solution for your document-sharing needs. Here are three reasons to invest in a virtual data room:

1. Secure

Whenever you share sensitive information, there is a risk of a security breach. At ShareVault, our virtual data rooms have several security features that can help prevent data breaches and misuse of confidential information. Files uploaded to a ShareVault virtual data room are encrypted in transit and at rest. This keeps them secure, even when they're uploaded or downloaded from the data room.

Files uploaded to a ShareVault are AES-256-bit encrypted protecting files from hackers outside of your organization, but our security features can also help prevent authorized users from misusing your documents. ShareVault provides usage logs on all users so an administrator can quickly see who has accessed a file, when it was accessed, and what the user did in the document. You can also prohibit users from downloading, screenshotting, or printing your files. ShareVault also provides digital rights management, which gives administrators the ability to “remotely shred” documents, even after they’ve been downloaded. These features help prevent any unapproved usage of your files by actors inside and outside of your organization.

2. Convenient & User-friendly

Whether you're an administrator uploading files or a user reviewing them, ShareVault has an easy-to-use and intuitive interface. Administrators can easily upload and organize files to share with collaborators and even customize the interface with a company name and logo. Once files are uploaded, administrators can assign hierarchical tags so files appear in multiple locations without making multiple copies of the file. Users can use features like full-text search to quickly track down relevant files. Users can also utilize the Q&A module to pose questions and get answers from project experts.

Unlike physical data rooms, virtual data rooms can be accessed from anywhere users have an internet connection. Access ShareVault VDRs on phones and tablets as well as standard laptop and desktop computers. In this way, virtual data rooms can improve the overall efficiency of a file-sharing process, such as due diligence for a merger. Reviewers don't need to leave the office to begin their review or seek out relevant documents. In a virtual data room, all the information is in the same place, right at the fingertips of reviewers. ShareVault also has a quick and responsive customer service team who are available 24/7, so you can get the help you need anytime.

3. Cost-effective

Physical data rooms can require a large amount of preparation and financial expenditure. Files must be securely printed and brought to a specific location where the reviewers can meet to look over them. The costs of printing, reserving space, and potentially funding any travel costs for reviewers can quickly become overwhelming. Because they are online, virtual data rooms don't require many of the same expenses as physical data rooms.

Virtual data rooms from ShareVault provide the cost-effective convenience of virtual online file hosting with additional security features to protect your sensitive documents. Switching from a physical to a virtual data room can significantly lower operating costs for due diligence processes. Using a virtual data room can help save time during the due diligence process, which often leads to reduced costs. Administrators can quickly and easily upload files, saving them time in preparation. Users can also utilize features like full-text search and quick commenting to expedite the review process. All of this can help reduce costs and may lead to a strong return on investment. On average, customers who choose ShareVault report savings of 25% in comparison to legacy data rooms. Try using a virtual data room from ShareVault and find out for yourself.

ShareVault: Your Virtual Data Room Providers

At ShareVault, our virtual data rooms have security features that protect your documents and allow you to grant or remove access at the click of a button. We also provide cost-effective alternatives to other document-sharing methods and a customer service team to assist you as you use them. ShareVault can provide the security, convenience, and return on investment that will make your due diligence process more efficient. If you are in need of a secure document-sharing solution, consider using a virtual data room from ShareVault.