Frequently Asked Questions
What is a data room?
A data room is a physical room in the real world where lawyers and other parties can disclose information about a company or asset for sale to other interested parties.
What is a virtual data room?
A virtual data room is the equivalent of a physical data room in the virtual world which can be used to perform a similar function. The advantages of a virtual data room are that it can be accessed from anywhere in the world with Internet access, 24/7, and that you can invite multiple parties to access the data room simultaneously without being aware of each other.
Why use a virtual data room?
If you have confidential information that you wish to share with colleagues in more than one location and you want to do this in a secure way that can be done quickly and easily then you need a virtual data room.
Read more on Why Use A Data Room?
What can a data room be used for?
Typically a data room is used for carrying out due diligence on a mergers and acquisition deal involving the sale or purchase of a company or asset or for managing confidential customer information on a large collaborative project. In reality however, a data room can be used for a wide range of different applications where security is of importance.
Read more on Data Room Uses.
How secure is your data?
We take the security and confidentiality of your data very seriously. We follow a range of measures to protect your information at all times:
- Initial access to the data room is by unique pincode, user name and password.
- All documents stored within the data room are encrypted at rest and during transfer using military standard algorithms.
- Access to documents is controlled by permission-based rules – if a user isn’t intended to see a document, he/she will not know it exists.
- Members of different Groups will not be aware of other Groups in the system (unless they are also members of those groups).
- A full audit trail of documents viewed or downloaded is provided. You can see who has downloaded which documents and when.
Read more on Data Security.
How much will a virtual data room cost?
Our data room pricing is based on three main factors: How many users do you have? How much data do you have? and How long do you need it for? To simplify this we have created four packages which together aim to support every requirement.
Please see our Data Room Pricing page for further information.
How long does it take to setup a data room and what is involved?
We offer same-day turnaround for all virtual data rooms providing we receive the order before 1pm. We can also advise on how best to structure your data so that it is easy to browse and navigate within the document folder structure.
Read more on Data Room Setup.
What are the benefits of Document Vault?
Particularly if this is the first time you have used a virtual data room then you will want to be confident that the system will bring you significant benefits over traditional systems such as physical data rooms and other methods of sharing data online.
Read more on Data Room Benefits.
How much data storage do you need?
The decision over which data room product to buy can often come down to the answer to one question - "how much storage do we require?" The answer to that question depends on how many files you have and how much file space they use up. For the majority of mergers and acquisition deals where files tend to be word processing documents, spreadsheets or PDF documents, 1GB of storage is usually more than enough. Only where files are unduly large, perhaps where you have detailed digital maps, geophysical survey data or AutoCAD drawings will requirements go much above this.
Read more on Data Storage Requirements.