Box Virtual Data Room

Box virtual data rooms overview

Box is a reliable collaboration platform founded in 2005 in Redwood City, California. The company offers several solutions for business needs, and the data room is one of them.

Box virtual data room is a secure space that facilitates the deal management process through due diligence, mergers and acquisitions, bidding, contract negotiations, and other complex deals. To make this possible, Box delivers mobile applications, tools for collaborating with multiple parties, and content security protection in a centralized virtual data room Box offers.

While Box does not focus on data room solutions, it offers the same type of services you would get from companies that focus on this area.

1. Interface

The interface is user-friendly, and it takes a few clicks to upload files or share data with other users. Also, there are features available that facilitate communication between external providers and internal communication as well.

However, the data room offers fairly basic features, and if you are an experienced data room user, you will not notice anything extraordinary inside the Box data room.

2. User permissions

There are options for user groups to determine which user groups can access what material. However, this is fairly standard among the best virtual data rooms in the industry. Perhaps it is best suited for individual users from small businesses who are not involved in large projects that require handling and storing multiple files or handling complicated transactions and projects. 

So, this data room lacks vital capabilities and functionalities to facilitate complex projects and ensure that data is protected from every angle. 

3. Activity tracking

There aren’t many advanced functions included that allow admins to track user activity inside the data room or to receive activity reports. You can choose data room solutions for your business that provide user activity reports since they are very useful for detecting unusual activity that may be going on in the data room. 

Therefore, even though it has good uptime and offers data backup services, it will not give you the full picture of what is going on in the data room, which could lead to problems down the road.

4. Archiving a data room

Additionally, it does not offer clients the opportunity to archive the entire data room on a DVD or flash drive, unlike other virtual data room providers. Sometimes, even after the close of a project, there are reasons why you would need to go back and check something. Having all of the information available is  useful and eliminates the need to call the provider or having to waste time asking others for help.

If you need to handle a very limited amount of data, this is a good virtual data room solution for you. However, if you will be conducting large-scale projects, perhaps the Box platform would not be the best fit.

5. Security

When using the Box virtual data room, we immediately noticed that it’s convenient and secure to share files. Namely, the software features secured data centers, customizable document watermarks, encryption keys, multi-factor authentication, single sign-on, and security compliance. 

All these security measures make data rooms a safe space virtually immune to data breaches and other privacy threats.

Box integrations

Box software includes many integrations compared to other data room solutions for streamlining due diligence and M&A, including Google Workspace, Office365, DocuSign, Zoom, and Salesforce. However, there are also other equally helpful add-on products:

Box Shield. It makes the secure platform even more reliable by applying intelligent threat detection and classification-based security controls.

Box Governance. Directors can set retention policies, legal holds, and disposals no matter how many users are on the data room platform.

Box Zones. This product supports cross-region security, so you can collaborate with organizations worldwide while keeping your documents in your preferred region.

Box KeySafe. Clients get independent control over data room encryption keys to prevent data leaks and breaches. Thus, all keys include a record of their use, so admins can track why information is being accessed.

Box customer support

In terms of its customer support, service is offered in a variety of languages, and there is even an online help center. Specifically, here are the support services Box offers:

• Standard support

Each data room user can access the support team and receive general and specialized help by submitting a request during business hours.

• Premier support

This service package provides priority chat and phone support, assisting critical data room use cases.

• Enhanced support

Clients receive end-to-end Box support 24/7/365 with multi-channel agent access, ticket prioritization, etc.

Reasons to choose Box data room 

Box virtual data room provider can be a good way to improve each deal stage while receiving the following benefits:

• Deal cycle acceleration

No matter how many users are on the deal room platform, they can make decisions and take actions from any mobile device at any time. Thus, transaction parties can sign deals on the go, having all the necessary features at hand. It is also worth noting that the provider has over 1,400 integrations streamlining even the most complex processes.

• Privacy protection

With Box software, teams easily prevent unauthorized access to cloud storage and data about competing parties. So, for example, data room admins can open or revoke access to the platform and ensure that only authorized users see confidential files.

• User experience enhancement

This data room provider has enough advanced features to make the Box user experience enjoyable. As a result, they are always ready for meetings with notes and contracts on their phones. Notably, data availability does not pose a security risk since directors can choose seven user permissions, disable commenting, and restrict downloads regardless of the device parties use.

• Extracting insights

The Box VDR software offers a unique feature called Box Skills. With this tool, due diligence participants benefit from machine learning extracting information from documents. The data room engine uses speech-to-text transcription, image tagging, and natural language understanding to extract untapped value from documents in cloud storage. As a result, locating data and working with content is much easier.