Virtual Data Room ShareFile Pros and Cons

The trend of remote deal-making and collaboration is growing more and more every day. Remote activity brings a number of benefits to businesses, including cost savings, time savings, a faster transaction process, and streamlined many transactions. However, the tools companies can use to conduct confidential financial transactions are quite a few, as virtually no cloud platforms are suitable for protecting business documents. Use virtual data room ShareFile to make complex transactions while feeling completely secure.

Citrix ShareFile – Vendor Overview

In 2005, a new online secure document sharing solution called ShareFile hit the market. However, after its merger with Citrix in 2011, it became an entirely new, even more, secure tool called Virtual Data Room.

VDRs are now one of the most popular business tools no remote transaction is without. There are hundreds of data room offerings on the market for various business sectors. ShareFile, for example, is great for the financial transactions of brokers, investors, and financial advisors. The tool can also integrate with cloud storage, and is mostly geared toward smaller projects. For larger companies, its capabilities may not meet expectations.

Citrix ShareFile standard features

Citrix ShareFile provides everything a small business would need to run business operations and projects smoothly and conveniently. To do this, VDR uses features such as:

  • SEC2 and CCAE16 security certifications, some of the best security compliance certifications guarantee strong space protection
  • State-of-the-art banking-level encryption – encrypts all documents stored inside the VDR, making them inaccessible to external tampering. Encryption occurs both at rest and during data exchange
  • Two disaster recovery centers – in the U.S. and Europe
  • Dynamic watermarks – protect against data leakage by storing information about the user who has accessed and acted upon the document
  • Automatic activity reports – Administrators can track all activity taking place within the VDR to detect suspicious activity in time, or to monitor the progress of a project or a deal
  • Real-Time Activity Tracking – You can see what other users are doing at the same time
  • Detailed access permissions – you can deny visibility to documents, or you can grant group or individual permissions to view documents as needed for a transaction
  • Detail interaction permissions – administrators can deny and allow capabilities such as copying, printing, uploading, and forwarding documents. Depending on a person’s role and responsibilities, you can regulate their access to the document
  • Document access expiration options – once the access date has expired, the document is automatically locked
  • Download files of any size
  • Automatic synchronization – Once you have edited one document, all changes will be reflected on other versions of the document, devices/platforms/desktop
  • Massive uploading -Download the entire volume of files in one click
  • Automatic indexing – number files in the order they were uploaded instead of you, logically organizing your data in an instant
  • Many file types support -no need to format documents before uploading, space supports almost every file type needed for business activities, including video and audio files
  • Failure-free server performance reaches 99.9%
  • Question-and-answer section -a collaboration and interaction tool for potential customers to help clear up any misunderstandings without arranging a face-to-face meeting. Receive instant notification when a new question comes into the space. This greatly speeds up the due diligence process
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