SecureDocs Virtual Data Room Review
SecureDocs is a virtual data room that provides customers with secure storage and exchange of data internally and externally. The high level of privacy protection makes the platform suitable for due diligence, mergers and acquisitions, fundraising, auditing, and business valuation.
SecureDocs data room applies privacy protection measures that comply with SOC 2, Type 2 standards. This report is a testament to the high quality of security systems, data processing integrity, and internal controls.
The virtual data room provider uses Amazon Web Services. These include security measures such as pin codes, segmentation, intrusion detection, biometric hand scans, firewalls, and security protection around the clock.
Additionally, 256-bit data encryption extends to documents at rest and in transit while Bcrypt works for storing passwords. All connections are secure with 2048-bit Authenticated Key Agreement and TLS 1.2 with 256-bit TLS Symmetric Encryption.
After a quick software launch, teams get the following features for managing documents:
- Virtual workspace administrators can control data access. So, before work, users are granted permissions from the admin, including Download, View, Full Access, or No Access.
- SecureDocs customers also have an audit log that includes time-stamped information on all activities on the platform. Additionally, the VDR monitors documents and highlights investor or buyer interests.
- Built-in electronic signature and templates make creating, sending, and signing nondisclosure agreements and deal paperwork quick.
- An advanced search engine takes a few seconds to find documents by searching a keyword or phrase. Results can also be filtered by setting more specific parameters. For example, you can locate documents containing the keywords “due diligence” for the last 20 days.
The Securedocs data room provider provides a transparent, fixed-fee pricing policy.
The 3-Month Plan is suitable for short-term projects. The plan includes storing, sharing, M&A data tracking, bankruptcy, and asset sale features. The cost is $400 per month — billed quarterly. A 14-day free trial is also available.
The 12-Month Plan better suits long-term projects and builds secure corporate storage for future deals. If there is a chance that a deal will last more than three months, then the 12-Month Plan is the better choice. The plan is priced at $250 per month — billed annually. A 14-day free trial is also available.
The third pricing plan is the Volume Packages Plan. It best suits those who manage many transactions simultaneously and need a safe, organized workspace. Contact Securedocs directly for a personalized quote.
The Securedocs’s virtual data room advantages include ease of use that features drag-and-drop and scan uploads. The provider also offers an unlimited number of users and storage. Additionally, technical support is available around the clock.
On the downside, Securedocs does not offer pricing for projects lasting less than three months. If users need an additional data room, they must pay for it separately. There are no packages featuring multiple data rooms. Also, the vendor does not provide flash drives for free — the cost of one USB drive is $300. Additionally, they only offer discounts to non-profit organizations.