Generic cloud storages like Google Drive or Dropbox seem to be very convenient when a business needs to keep files online and accessible to other parties. And the most appealing thing that usually they won’t even have to pay for the service, or the price will be very low. However, there are risks and issues that will make you want to choose a virtual data room. We’ll take a look at them using the ShareFile data room by Citrix as an example.
Let’s begin with the most important thing — the safety of corporate data. Sure, a cloud data storage will provide you with some sort of protection. But there are too many cases of user accounts getting hacked rather easily to trust such services your sensitive documents. Data leaks cost a lot of money, and you can’t just take this risk.
Generic cloud storages lack multi-factor authentication, you always remain logged into your account, and the files are not protected as reliably, especially if you’re sharing them via a link. ShareFile data room offers multi-factor authentication and protects the storage with bank-grade encryption. It doesn’t keep you logged in to prevent the data loss if someone gets access to your device. Additionally, this service provides you with watermarks, view-only permissions, and other small features that will improve the safety of your files.
All generic cloud storages will let you do is keep files online, share them, and edit them together with other parties. ShareFile provides users with feedback and approvals tools that will improve the teamwork, e-signatures to accelerate business processes, and effortless download and upload that can handle files up to 100 GB. A data room is created to improve and simplify business processes while a cloud storage is created to just keep your files online.
If you invite your potential partners or investors to a data room, you’ll create a good impression of a company that’s serious about its business. A link to a folder in a data storage doesn’t look as convincing. ShareFile allows you to customize the interface with your unique branding to appear more solid in the eyes of third-parties while files kept in a cloud storage look like you simply don’t care enough.