SecureDocs

SecureDocs, Inc. was acquired by Onit in 2021, a well-funded group, though SecureDocs remains a standalone solution under the Onit umbrella.

SecureDocs offers virtual data rooms for short and long-term use. VDRs successfully play the role of deal rooms for convenient M&A due diligence and, simultaneously, of corporate repositories that enable ongoing file management. SecureDocs guarantees quick setup (a room can be prepared within 15 minutes) and reasonable prices. For the money paid a user gets the multi-sided protection of the confidential corporate data – two-factor user authentication to prevent cyber attacks, dynamic watermarking and encryption at rest (AES 256-bit) and in transit (TLS 1.2).

Activity alerts immediately inform users about new documents added – email notifications ensure that not a single upload remains unnoticed. To simplify data management all the users can be segregated into permission groups (No Access, View-only for PDF & Office Documents, Download/Print access, Full access). Also, administrators receive exportable daily audit reports that contain information on all the activity performed in a VDR: the actions are not only registered but also time stamped. Aside from the complex protection and data management, SecureDocs provides simple and convenient user-friendly interface.

Documents and whole folders can be exported with one click due to drag-and-drop function. All the documents are aggregated into the folder tree that significantly simplifies navigation in the room. In addition to the highly functional and comfortable environment for deal-making and data storage, SecureDocs clients get an opportunity to customize their room: new users receive personalized messages; watermarks, invitations, a VDR in general are branded according to the client’s demands. And in a case of any possible problems or doubts customers get a quick professional support via phone or email.

SecureDocs data room features

As this virtual data room software is instantly usable, you can benefit from the following features as soon as you set up data room workspaces:

• Customizable dashboards. Customers make smart assumptions with customizable dashboards and insightful real-time user statistics. Thanks to these features, they can easily analyze all data room activity to gauge the interest of investors and buyers.
• Advanced search. The advanced search feature allows you to work with a large volume of data thanks to unique mechanisms that quickly find a document of any format.
• Audit trail reporting. Administrators are aware of all user actions in the data rooms, which contributes to better control and expedited deal management. Audit trail reporting includes optional daily reporting and date and time stamps.
• Electronic signature and templates. SecureDocs e-signature and templates allow you to create, send, and securely e-sign confidential information memorandums, non-disclosure agreements, and other transactional documents.
• Permission-based roles. Admins can manage user permissions based on roles, defining full access, view only, download, or no access rights. In addition, they can restrict access anytime when it is needed.
• Q&A. Transaction participants can ask and answer questions directly in the data room or via email. In addition, FAQs can be published in the data room to save time and get a deal ready faster. Overall, the Q&A feature is simpler compared to some high-end VDRs.

SecureDocs data room pros and cons

According to SecureDocs virtual data room reviews, this provider has the following strengths and weaknesses.

Pros

• Easy creation and upload of different data folders
• Automatic directories and hassle-free management of files
• Unlimited users and documents
• Fast and smooth process of inviting new users
• Fixed cost without hidden fees
• E-signature capabilities

Cons

• It is impossible to terminate the subscription without contacting SecureDocs support
• The solution is not cleared by all investment bank compliance departments
• The Q&A lacks some advanced features (like auto-routing questions to subject matter experts, etc.)

SecureDocs data room integrations

In addition to virtual data rooms, the provider also offers ContractWorks and ReadySign.  

ContractWorks helps legal clients manage contracts, while ReadySign makes it easy to sign and store confidential documents online. 

By combining these beneficial tools, SecureDocs has become a full-featured data room suitable for many industries and use cases.

SecureDocs features and data centers

The provider offers robust features and security measures so that users can securely store and share unlimited documents. And unlike other data rooms, SecureDocs virtual data room software implements industry-leading compliance certificates and data protection tools.

With extensive security measures, Amazon Web Services protect your organization’s sensitive data. Specifically, AWS includes firewalls, pin codes, electronic key cards, segmentation, biometric hand scans, and security officers on-site around the clock.

Additionally, SecureDocs’ data rooms comply with SOC 2 type 2, which gives the client information security confidence. SOC 2 proves that the provider follows the most rigorous standards and chooses the best security practices in the industry.

Each document in the data storage is 256-bit encrypted, and all connections are protected by TLS 1.2 with a TLS 256-bit symmetric encryption. Plus, all passwords are encrypted with bcrypt. 

In addition to the above, the solution includes measures such as two-factor authentication, single sign-on, automatically watermarked files, and customizable permissions, making it easy to secure users, projects, and the corporate repository. 

Also, with 99.9% uptime, teams never worry about losing deals or missing opportunities.

SecureDocs virtual data room pricing plans

While the vendor offers unlimited users and unlimited data storage, it sticks to transparent flat fee pricing. And although user satisfaction regarding the service cost is low, the demand for the product remains high. 

It is noteworthy that almost all software features are available regardless of the chosen tariff plan. 

Thus, bulk user invite, new document notifications, ongoing upgrades, document migration and setup, customizable clicks through NDA, logo and unique URLs, drag-n-drop uploading, document watermarking are available for all packs. 

Consider scheduling a 14-day free trial to explore all the features available.

Additionally, you can review the SecureDocs pricing plans to determine how affordable this virtual data room is and whether it aligns with your company’s budget requirements.

Monthly amounts ($250 or $400) are billed in one lump sum for the entire period.