How to set up a data room

Set up a data room

Establishing a data room doesn't need to be complicated at all. You can effortlessly upload a complete folder structure to your own online environment, which can also be utilized by colleagues and third parties. Moreover, you retain complete control over the data room and can see in detail the actions performed by the users.

When do you need a data room?

When selling or buying a company, one often has to deal with a data room in which the due diligence is facilitated. The data room is therefore a well-known product in the real estate market and M&A market. But we also see that a data room is becoming more popular in other markets. The increasing number of cybercrimes are making companies more aware of the importance of a secure environment for their file sharing activities.

From physical data room to Virtual data room

Today's digital applications have largely replaced piles of paperwork in many industries. This also applies to data rooms. For example, we hardly see the predecessor of the virtual data room, the physical data rooms, anymore. Some companies still remember the sweaty meeting rooms full of files. Fortunately, with the larger transactions, these no longer exist and the virtual data rooms are saving companies a lot of time and money.

Important with a data room

A virtual data room can be a more secure solution than a physical data room, as long as it meets high security standards. Choosing the right provider and their services is crucial for ensuring a secure virtual data room experience. When selecting a virtual data room, make sure to focus on its user-friendliness, security measures, and customer support. These factors should not be overlooked.

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Your Data Room questions. Answered

What is a data room?

An online data room is a virtual repository that colleagues and external users can access via the Internet. Depending on the role and rights of a user, he/she can view documents within a controlled and secure environment. However, you are in control and determine which users can view which documents. This is all recorded in reports so that you are aware of everything that happens in the data room.

What is a Virtual Data Room?

As the name suggests, a virtual data room is a place to store sensitive and confidential files. Being virtual means this information can be accessible from anywhere in the world. Companies that need to carry out due diligence and manage assets throughout their lifecycle typically use virtual data rooms. It’s also useful when entering into a variety of collaborations between business stakeholders. Some examples of this include M&A, Real Estate, Private Equity, Tender, Buy & Build, etc.

Essentially, a virtual data room offer specific sets of features such as advanced permissions, Q&A tool, multiple factor authentication and watermarking and will act as leverage in all sorts of projects that require secure and professional document storage, management and sharing.

How do I set up a data room?

You can set up a data room quickly and easily. You have access to a virtual data room via the internet. If you decide to open a Virtual Vaults' data room, you can immediately upload your folder structure in your own environment and, if desired, with the help of the Support Department. As soon as your structure is ready in the data room, you can invite unlimited external users to the roles you've created with different access rights.

Handy functionalities such as the Q&A module make it very easy to work together and smart reports keep you up to date and you know exactly who has viewed which document.

How much does a Virtual Data Room cost?

Traditionally a virtual data room's final costs are entirely dependent on two factors. The length of time you will need a virtual data room and the total amount of data storage required. More often than not this does require an estimated calculation of both time and storage needed, meaning on occasion you could incur data overage fees. However, at Virtual Vaults, we offer unlimited data storage for a single flat rate. Meaning you pay one price up front and you only need to decide on your subscription length period.

What is the Data Room Unlimited plan?

Virtual Vaults Data Room Unlimited plan offers specific sets of features such as advanced permissions, Q&A tool, multiple factor authentication and watermarking all within a secure data room with no data storage limitations. Unlimited data storage, unlimited features.

How to set up a data room?