SmartRoom is a web-based virtual data room service provider vested in a seamless data room service for M&A due diligence, educational purposes, and other business-related data room demands. SmartRoom provides an efficient data room system that allows you to upload large files, store confidential documents in a secure database, share files from your email, and index documents in folders and files into your data room.
The SmartRoom data room provider can be conveniently used for document management, fundraisers, and business restructuring. SmartRoom data room services cut across different industries, such as financial, technology, biosciences and more.
SmarRoom’s document management features allow you to seamlessly integrate other cloud file-saving tools like, Salesforce or Office365, into your SmartRoom data room. It’s easier to access content in your data room securely, using the SmartRoom app feature, from the comfort of your phone.
Documents are encrypted securely in the SmartRoom database hosted on Microsoft Azure and secured efficiently with encrypted algorithms to keep user data safe and out of unwanted reach. It allows users to revoke access to documents, or destroy them even after they’ve been shared and downloaded by users, via its smart lock feature.
SmartRoom’s activity log allows a data room owner to securely monitor the activities of users within the data room. And on top of that, SmartRoom allows you to hide confidential aspects of a document that you don’t want to share with an end-user by redacting such areas or pages of the document.
If any assistance with the platform is needed, SmartRooms offer a 24-hour support service and training on how to use the data room to new users. It also allows users to send emails to stakeholders right within the data room ecosystem.
Pricing on SmartRoom is quote-based and specific to user needs. However, SmartRoom offers a demo version, so you can always have an overview of the services you’re getting.
SmartRoom has a lot of benefits which make it a leading solution for businesses both large and small worldwide. Among the ones most frequently reported by the users are:
- Efficient document management. SmartRooms allow you to seamlessly create and manage your documents within the Microsoft Office suite online. You can also track changes on your document while this happens, all within the VDR. The data room is also designed to allow documents to sync easily when any changes are made. These changes are updated on the VDR if made on the PC or vice versa.
- Link-sharing for collaboration. Data rooms are used to share confidential information for due diligence amongst stakeholders. SmartRooms allows users to do this easily, by sharing documents using a unique link that allows them to access them, once they have the permission and keys to do so.
- Document-specific control. When a user grants access to certain persons in the virtual data room, SmartRooms allows a user to determine how much access, and which documents such people are authorized to view. This means that all files can be handled confidentially amongst the users within the data room.
- Reporting feature. More like a virtual secretary, the users within the VDR can request an automated report of activities within the VDR, which helps to have an overview of the processes, and discussions done in the process of due diligence. It helps to fast-track reporting for users and can be used to keep track of discussions and submissions as well.
On the negative side though, SmartRoom’s quote-pricing might make a user’s decision-making quite difficult, as a user might not have an idea of what to expect until a quote is sent. A fixed pricing policy with customizable options, will help a user determine if the service is within budget and waste no further time to decide.
Also, features on SmartRooms are pretty generic, and common services of other virtual data room providers as well. However, most clients are satisfied with their support, features, and pricing on a larger scale.