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Using a virtual data room has become quite common these days because it can provide companies with the speed, efficiency, and security they need. VDRs are decent at storing your sensitive data and simplifying many business operations, but choosing your provider can be tricky. Despite the broad market for VDR products, a company must choose carefully which tool is right for them. In this article, we will review the Digify VDR and highlight its main features so you can see if it’s right for your business.

Digify VDR – general outline

Virtual data room provider Digify is one of the new generations of data room providers, as the program was launched in 2011. The product was created from scratch based on the main requirements of business companies. VDR provides its services to all types of businesses from small to large, and it is often used in banking and government institutions.

 The main purpose of Digify VDR is to provide easy transactions and strengthen cooperation links, and the provider does its best to provide its clients with the right tools.  The security of the space is top-notch, and its flexible pricing can compete.

The Digify provider offers its services in English only and supports almost all operating systems except iOS. VDR’s storage capacity is 100GB, and you also have the option to use a trial demo of the product or its free one-week version. Customer support is always available to answer your call or email.

Key Features of Digify VDR

Below we will provide a list of the key features that the vendor provides to its customers, we will give them a short description and highlight their main benefits:

• Security and Hosting

Digify VDR provides us with several top security certifications, including ISO / IEC 27001: 2013, SOC 1, GDPR, and HIPAA, which shows that its security is recognized internationally. It also shows that Digify’s data room can be used in a wide variety of applications, including medical. The program also constantly backs up your data, so in case of corruption, or other errors, your documentation is safe. Two-factor authentication protects logins from hacking and unauthorized access.

• Easy to use

All data can be downloaded quickly and easily using drag and drop functionality and it does not take you long to organize it either, as the program automatically indexes all documents that are included in the VDR. The sync with desktop feature automatically transfers any changes you’ve made to a document to the same document on your desktop and vice versa. A title and the content search function will also make it easier for you to find the document you want.

• Document Protection

Digify VDR takes responsibility for the security of your documents and tries to minimize the chance of data leakage as much as possible. It does this by using detailed permissions features that prohibit copying, downloading, or forwarding a document, customizable watermarks that help you track your document even outside the space, and strong encryption methods, both at rest and during document transmission.  A document timing feature lets you revoke access to documents even if the document has already been uploaded to an outside space.

• Interface and collaboration

The program’s interface is quite simple and allows owners to customize it to match their brand and logo. It also allows for special custom invitation letters to be sent. For improved communication between users within the space, the vendor provides a question and answer section as well as secure messaging via encrypted chat.

Business companies go on cooperation with other companies for many purposes, mainly because of a desire to increase income, competitiveness in the market, to increase their influence or acquire new clients, sometimes all together, and sometimes for other reasons. And depending on these reasons, they also choose the method of cooperation, of which there is also a sufficient number in business practice. Organizations mainly resort to three types of them: mergers and acquisitions, partnerships, or joint ventures, but what are their differences, purpose, and benefits? In this article, we will find out.

What are M&A transactions?

A merger and acquisition is a complex, multi-step process that requires a lot of time, effort, and expense on the part of the company. You must be prepared for all possible risks, as well as know how to prevent them.

In simple terms, a merger and acquisition is a process where two or more companies merge with each other to form a new organization. Sometimes it implies equal responsibilities and opportunities for both companies, and sometimes one company acts as a subsidiary and subordinates the other.

M&A comes in several types:

Vertical – this is when both companies operate in the same field but in different industries, that is, one company acts as a supplier of products to the other company, and in this way, they increase their market share and expand their customer base

Horizontal – when companies (it often happens that competing companies) working in the same direction unite their efforts, thus, increasing their influence on the market and enhancing their competitiveness and income.

M&A processes involve due diligence, the deal process, and subsequent integration. It can take a long time before a deal is completed, up to as long as 1 year.  But if you don’t think an M&A deal is an option for you, then you can pursue a joint venture or partnership deal to achieve your goals.

Partnership

Technically, a partnership deal is still considered a merger, but in reality, this deal can take place without any investment or financial transactions. In this type of agreement, each partner gets their share of ownership, which is equal to the value that they contribute to maintaining this partnership. As a result, you create a powerful new business based solely on the strengths of both partners. Typically this type of transaction is common for businesses that provide different services, and have a lot of experience so they form a common customer base. Any company can use this type of transaction, but most often it applies to IT and telecommunication companies.

Joint Venture.

A joint venture is considered a more informal type of contract, but you still need to legally certify the document to get it done. A joint venture is a transaction between two independent companies that split the same business in two, with all revenues, losses, and management divided equally.  This venture is either a separate physical building, for joint operations, that exists without any relation to the other business interests of either party or exists simply by word of mouth. This type of contract is considered the easiest to enter into or terminate. It can be either short-term or long-term, depending on the purpose the companies are pursuing. As a rule, as soon as the goal has been achieved, the contract is canceled.

The Virtual Data Room solution is something that has grown worldwide at an unimaginable rate. The VDR market has exploded in the last few years, and now many companies around the world are using it. The main reason why data room has become so popular is security, the ability to work remotely efficiently, and ease of use. However, some are still opposed to modern technology, and we can not condemn them because there is a good reason. In this article, we will highlight the main advantages and disadvantages of the VDR solution.

What You Should Know About Virtual Data Rooms

Virtual Data Room began as a program for M&A and all of its predecessor processes, due diligence, integration, etc., and only then expanded into all other industries, both inside and outside of the business. VDR was specifically designed to simplify business transactions and protect sensitive documents digitally.

You can put all the necessary information for a transaction in a secure vault, and give permission for its use by invited users. So, it does not threaten your security in any way, because the program takes measures to protect against data leaks, it frees you from having to meet in person, and it allows you to control the whole process much more easily.

Despite all these pluses, some people still prefer more antiquated measures for document and transaction management, namely physical data rooms. Of course, they also have their advantages, but before you decide which transaction method is really right for you, we suggest taking a look at the main pros and cons of a data room.

Pros of data room

So. Among the strengths of VDRs, we include:

• Availability -Data rooms are very easy to maintain, they offer favorable prices that match the quality, in many aspects, it is more profitable to use them, for example, you do not need to make travel expenses and waste money on consumables (paper, printing, folders, etc.)
• Flexibility -you and your employees and invited users can have access to the information they need at any time and in any place with a stable Internet connection. VDR supports any type of device
• Efficiency – fast exchange of documents and the ability to contact partners ensures a smooth transaction process, speeding it up many times over
• Collaborative – VDR allows you to remain interactive between users, strengthening your bonds. You can use special encrypted chats to discuss important issues or use the Q&A section to leave a question near something you think is unclear, other users will instantly see your request and respond
• Security – VDRs are extremely secure, they use international security certificates, data encryption, and dual authentication to provide a secure space for confidential transactions. They allow you to set detailed permissions for document interactions, watermarks, and apply features to monitor the actions of other users

Minuses of data room

The weaknesses of VDRs include the following:

• Errors and glitches – sometimes system problems can occur in the data room that can threaten the security of your confidential documents, but in practice, this has happened very rarely
• Limited features – Too cheap VDR providers cannot provide all the functionality that more expensive tools can. So we wouldn’t recommend saving money on a data room program, lest you face a more confusing transaction process, customer dissatisfaction, and security threats