securedocs data room review

Securedocs Virtual Data Room

3.3/5.0
securedocs data room review
Securedocs Virtual Data Room
3.3/5.0

Intro 

SecureDocs virtual data room is a simple and effective solution for M&A, strategic partnerships, due diligence, IPOs, business valuations, licensing deals, bankruptcy, preparation for potential investment, and any other business process involving many documents. 

SecureDocs can be set up within only 10 minutes, and thanks to the straightforward interface, users won’t have issues understanding the features. All these qualities make this provider startup-friendly and versatile enough to fit any requirements even for investment bank compliance departments. 

The combination of great functionality and accessibility makes this software work great for businesses operating in any industry.

SecureDocs overview 

Established in 2005, this provider is based in California. SecureDocs was purchased by Onit, a company that offers business workflow solutions, in January 2022. Focused on offering a simple and secure tool for businesses, SecureDocs created its data room that supplies companies with all the features they need for productive teamwork. 

This is a great VDR solution that has already helped firms worldwide to close numerous deals — their total worth is over $100 billion now. Customers are highly satisfied with the product, so you won’t see negative ones if you look up client reviews. 

Many new users sometimes face minor issues, but those are not significant enough to spoil the experience. However, based on many user reviews, choosing SecureDocs data room was one of the best decisions they’ve made for their business.

Primary features of SecureDocs

SecureDocs data room doesn’t offer any unique functions compared to other data rooms. It’s a full-featured data room that is sufficient for the needs of businesses. 

Here you can easily upload and manage files, customize the interface of your data room and the NDA for invited parties, and set access levels for users. Additionally, administrators can control others’ activity to get insights or spot suspicious behavior through customizable reports.

The main SecureDocs features include:

  • Drag-and-drop feature. Drag and drop functionality or the Fujitsu ScanSnap Scanner both make it simple to submit your files to the data room. The software also creates automatic directories making the process of organizing files quick and easy.
  • Permission-based access. By allocating user roles, you can restrict access to certain files and decide whether to grant the secure users complete access, no access, view-only access, or download choices.
  • The Q&A section. Businesses can use Securedocs’ Q&A section to expedite agreements and e-sign documents for quicker approvals. In the VDR or via email, the questions can be immediately and directly addressed. To save time, you can also write and post FAQ responses.
  • Audit trail reporting. Administrators can choose to receive optional daily reporting in addition to detailed audit logs that record date, time, and activity information. You can establish activity alerts or email notifications, as well as view who is viewing a specific document.
  • Customized dashboards. Dashboards that are simple to use allow you to look at user activity and monitor investment interest.
  • Electronic signature and templates. There is an integrated electronic signature function that allows agreements to be completed without the use of additional tools.
  • 24/7 customer support. The support team is available at all times, you can reach out to a live rep whenever you need. You always have access to your data room thanks to its 99.9% uptime.

Integration opportunities of this provider

A revolutionary approach to data room software combines straightforward, user-friendly design with strong, industry-leading protection. The SecureDocs virtual data room is an online service; however, it’s not mobile-friendly. You can also get a 14-day free trial to test out the software before committing to it.

How to get started with SecureDocs 

One of the main advantages of SecureDocs is that you can set up data room and start working in just 10 minutes. Here are the quick steps to help you go through the easy setup process. 

Step 1. Select the right data solution

Choosing the right VDR provider will help you prepare for M&A transactions, fundraising rounds, audits, and any situation where you need to share sensitive information with a third party. Be sure to consider factors such as:

Make sure to evaluate the feature sets, usability, security features, price, and other aspects. You should have a list of your requirements, as it will help you find exactly what you need much faster.

Step 2. Decide which files to upload to the data room

Depending on the type of deal you’re doing, whether it’s intro deals or complex transactions, make sure you have the right checklists with all the needed files that should be uploaded to the platform.

Step 3. Organize files and folders

Organizing your data room will help complete processes such as due diligence and audits much faster. It’s worth defining a clear file naming that would allow all parties to identify the document without opening it. 

Step 4. Establish user roles and access

The ability to specify users’ access privileges to the appropriate documents will also be greatly facilitated by organizing the files and folders in your VDR. For instance, auditors could need access to specific records that angel investors shouldn’t have, and vice versa.

Step 5. Confirm software settings

Don’t forget to review all your VDR settings, including security and user permissions. You can start inviting your user base once everything has been checked at least three times.

SecureDocs virtual data room pricing for businesses

The SecureDocs flat-fee pricing starts at $250 per month and offers three plan options: a 3-month plan (billed quarterly), a 12-month plan (billed annually), and volume packages for clients who are dealing with multiple complex transactions. Volume packages are customizable plans offering a better price for individual clients based on their needs.

All three SecureDocs data room pricing plans offer the same benefits — including unlimited data storage capability and unlimited users. Only the Single Sign-On feature is not included in the 3-month plan. 

SecureDocs data room provider guarantees no hidden fees, as there is only one fixed cost you pay. When you need better functionality for expedited deal management you can switch to another plan and stay deal-ready.

Main reasons to choose SecureDocs data room

Here are some of the key reasons companies choose to use SecureDocs data room to quickly, easily, and securely store and access information about their employees, their business, and more.

Ease of use for maximum efficiency

For affordable prices, the SecureDocs data room offers a simple-to-use virtual data room that allows users to quickly upload, manage, and share sensitive corporate documents. There is minimal training required with SecureDocs, as it’s easy to use and intuitive. 

With the drag-and-drop feature, you can effectively manage the huge volume of confidential data that works extremely well during complex transactions. 

Centralized platform to store and share all forms of data

SecureDocs data room is a platform offering high-level security features to manage confidential documents from anywhere around the world. 

High-level security features 

SecureDocs puts great attention into the details of double authentication, access control, and realizing a flow of communication that would ensure that only the authorized user are able to view documents.  

You can easily add secure users to your SecureDocs virtual data room. They gain immediate access to the large volume of files within the data room. 

SecureDocs customer support 

The provider’s customer support service is able to handle significant issues quickly. SecureDocs support will be able to find a solution to almost everything related to your data room user experience. 

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Users’ Reviews

We care about the usefulness and the relevance of information about datarooms. Each comment is moderated, and only after a thorough review by our administrators, it appears on the site. We hope that we can help you to find the information you need and choose the right data room for your business. If you have experience using a data room, please share it in our comment form.

Good

4.0

Based on 1 reviews

Last reviewed on
July 6, 2022

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  1. Dan M. Financial Specialist
    Review date:July 6, 2022
    Industry:
    Financial Services
    Market Size:
    Mid-Market
    Review Source:
    Capterra

    It’s a good service and the features were great for creating a data room. However, my overall concern is the price was too high for us to use it again. We used this software to help us with a deal. It is a great Data Room program and we found it really helpful to share different data folders with everyone involved. SecureDocs data room was very expensive and I think other cloud storage providers would also be suitable for us

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