One of the most prominent cloud storage systems in the market is Dropbox[i]. This blog will explain to you why you should use a virtual data room(VDR) over Dropbox. It aims to put forth the ways you can make the best use of a virtual data room and how DCirrus provides the best virtual data rooms.
A virtual data room is an information storing facility, predominantly used during merger and acquisition deals. When you have store enormous information, a virtual data room is a smart choice. Read the essentials of a virtual data room here:
To understand the difference between Dropbox and the VDR, let us first look at the features of dropbox. Dropbox is a cloud storage company that provides online workspace. The following are some of the important features of Dropbox[ii]:
Dropbox-like every other cloud storage platform allows you to store and transact data virtually. You can create content and grant access to whoever you find necessary. It allows you to access all your data in one place.
Sync all your data on Dropbox. This feature is essential for teamwork and when your data is on several devices/platforms. Further, you can back up your data which will ensure your data is not destroyed or lost, in case something happens.
You don’t have to stay connected to the internet to access your files on Dropbox. This means that you can work from a remote area, not worrying about connectivity.
You can connect productivity tolls such as outlook, to-do lists, Gmail, and so on. With Dropbox Paper, you can create documents with your team. File requests allow you to work with the team and others easily.
Let us now look at the factors that distinguish the virtual data room from Dropbox. A VDR has all the features of Dropbox. It has other features that aid in increasing your efficiency and productivity. The following are some of the noticeable factors:
Dropbox is a cloud storage platform. Like the other companies, Dropbox is meant for file storage and sharing. The security mechanism employed is the bare minimum. Virtual data rooms are predominantly used in merger and acquisition deals. They are also used in the financial and legal sectors. What is necessary here is, high-level security. This sort of high-level security is available only in virtual data rooms. This is why companies prefer using a virtual data room for any other personal cloud storage system. Dropbox is a variation of a personal drive. Whereas, virtual data rooms resemble a physical room of information on a cloud platform.
The organization system in Dropbox and the virtual data room are different. In Dropbox, you can create one folder and grant access to others. While, in virtual data rooms, you can create groups and within groups, you can create multiple folders. This helps you restrict access to all files. Each department of the company will have a group. This way you can limit the access of personnel to their respective departments. Virtual data rooms are highly recommended for companies.
Dropbox provides you with a platform. You can connect all the necessary services to this platform. Dropbox supports third-party integrations. Whereas, in a VDR, the platform comes with the services. This makes the data room secure. Most data room providers have a team always ready to assist you with these services. DCirrus has a team to assist you in setting up the virtual data room and aid you at any given time.
The admins of the virtual data room have a very crucial role in the functioning of the data room. Admins are assigned as soon as the data room is created. It is the admins who grant access to the personnel to view, work on, and upload documents. Normally, managerial personnel, partners are made admins. These admins must be trustworthy. Since admins have the power to grant and deny access, if they are not trustworthy, unwanted access may be granted. This can then lead to a data breach. Several times, data breaches happen due to an internal slip in the company. Untrustworthy admin is an internal slip. Therefore, a virtual data room with the highest-level security is useless, if the admins are not trustworthy.
Virtual data rooms are used in merger and acquisition deals. A lot of work goes into such deals. There is a probability that some job is overlooked. When a virtual data room is created, several groups and users are created. If a checklist is created for each group, it is easier to supervise the fulfillment of the job. Further, if each group creates a checklist, the process of creating a checklist is made easier, since the work is divided. With a checklist, the companies and admins can make sure everything is functioning smoothly and on time.
Many people may not be aware of a virtual data room and how it works. If they are unaware, the efficiency of work is reduced greatly. Therefore, once the data room is created, instructions have to be given to the personnel who have to work with the data room. Some data room providers are ready to provide an orientation. DCirrus has a team that is ever ready to help you.
The admins can grant access to personnel and documents that have to be stored in the data room. They must give access to personnel who are a part of the deal. They must not give access to unwanted personnel. Even with the entry of documents, they have to be cautious. A virus attack or malware is the last thing anyone wants.
If you are a business, a virtual data room is essential. Especially, if you are entering a merger and acquisition deal, a virtual data room is your best friend. It allows you to store all your data in one place. You can organize your files according to your requirements. It is highly secure; therefore, your documents are extremely safe. Several users can work simultaneously, hassle-free. Switch to the VDR today. Choose DCirrus for the highest level of security and efficiency.
DCirrus is the best virtual data room provider in the market. The main factor that distinguishes a VDR from Dropbox is security. DCirrus is very proud of its security features. We provide the highest level of security. We care about your security and privacy like no other. Your data is encrypted at multiple levels. We provide multi-level authentication and verification. Unlike the other cloud storage providers, we do not access your data. Our virtual data rooms come with tools like smart search, drag, and drop upload feature, document tracking. With Dcirrus, you will be able to prevent people from copying your data on other devices. You can restrict access to only view or only time access. You can restrict downloads and if you decide to use the one-time access, the document will automatically get deleted from their systems.
We provide case management features for lawyers and law firms. We also provide a degree verification feature for universities and employers. The documents involved in these processes are highly sensitive. But you don’t have to worry as we protect your data completely. We understand your requirements and therefore, you don’t have to choose from our standard plans. And we will make a plan that fits your business perfectly. We customize our plans following your necessities. Most of the virtual data rooms are expensive. Our prices are very affordable. Our privacy and affordability make our data room ideal for startups. We cater to all businesses.
If you are a business, choose our virtual data rooms. If you are an individual, choose are personal storage systems. Dcirrus will never let you down!