Box Virtual Data Room Review
Box is a web-based virtual data room provider that helps to facilitate due diligence and team collaboration across financial, technology, and bio-scientific industries.
Box provides data room services across different industries and is used for M&A due diligence, bankruptcy, and restructuring, IPOs, fundraisings, clinical studies, biotech licensing amongst other industries. It is preferred for its affordability and ease of collaboration between teams, and small-scale businesses can rely on it for functionality in its simplest terms.
Data is secured on Box using a 256-bit encryption technology that helps to ensure data is shared within authorized persons alone. Team members are given granular permission to only access documents and files that they are authorized to view, edit, or download. A data owner may restrict the printing and copying of confidential documents within the ecosystem of the data room. This data room service provider, also ensures that there’s a limit of time that a user can access or use files within the data room as set by the data room owner. Access into the data room is done using a two-factor authentication system, for maximum data security, and can be managed via the mobile device of an authorized user.
Box ensures a limit on IP access, hence helping you control how many devices get to access the files in the data room. Essentially, it also allows you to group users who require the same level of access under a preset permission level.
As a virtual data room designed to enhance document sharing among teams and individuals, it makes it easy for most users to get things done in the most secure way and without any locational limitations. Here’s how:
- Customization. Box allows you to customize documents in unique designs and colors that resonate with your brand. You may also choose to add logos watermarked on such documents as proof of ownership and originality.
- E-signatures. Users are able to append their signatures on the documents and are equally notified of changes made on documents within their level of access.
- Convenient link sharing. The system allows users to create unique links that can be shared in confidentiality with other users of the document for ease of access.
- Drag-and-drop upload. A simple drag and drop feature allows you to upload as many files at once, without needing to select across different folders.
- Intuitive indexing. With Box, it’s easy to find any document at a snap of your fingers, due to its indexing and numbering structure.
- Multilingual interface. The data room service supports several languages, making it easy to collaborate with colleagues without limitations.
The pricing of the data room is set at a fixed price and allows users to enjoy a 14-day free trial on its use. It features two packages that allow a user to pay $15 or $5 per person on a monthly basis based on the features requested.
Most people enjoy using Box in team collaboration while sending the files in the most reliable and secure way. It provides 24hrs support and helps to train on the use.
Data is securely backed up and scanned against viruses to ensure that your document is kept secure and confidential. On top of that, Box can be used on Android and iOS securely and efficiently.
On the downside, Box has a basic design that makes it limited in how it can be used. It has been deemed not so effective as a data room for due diligence, but as a cheap data room provider that helps to provide seamless collaboration between teams.