Virtual Data Rooms vs Google Drive

In this article, we will conduct a comparative analysis of two file-sharing solutions – Virtual Data Rooms vs Google Drive to help you understand which option is more suitable for your business.

Sharing business documents in the cloud

More and more users are choosing cloud storage to store their data, refusing to use external drives. Among the advantages of storing data in the cloud is the speed and ease of access from almost any device connected to the Internet. Despite the many advantages of cloud storage, the security of files and documents stored on such services remains a key issue.

Exchanging and sharing information and documents of all kinds via the Internet is common practice for users today. But for most, this is reduced to the simple exchange of files at the folder level and providers such as Google Drive.

Although file-sharing solutions made the use of cloud storage popular in the first place, they also strongly promoted shadow IT through simple access, which is often even free of charge in the entry-level offers. But nowadays several special services offer virtual data rooms (VDRs). Sensitive documents can be exchanged, managed, and processed transparently and securely in data rooms. Such software solutions not only bring significantly more business-relevant security functions, but they also fit much better into existing IT infrastructures.

Virtual Data Rooms vs Google Drive: similar functions

Data room and Google Drive are two file-sharing software alternatives that have similar functions:

  • storing files of any format in a safe place, but without being tied to a specific computer. You can access the vault from anywhere in the world and from any device that supports Internet access;
  • create new files and work with them without logging out and without downloading additional applications to the device;
  • collaboration of people who are at any distance from each other, on the same document. At the same time, everyone can view the changes made in real-time;
  • assign access level for each person when collaborating on documents – only view, leave comments, or edit;

Why data room?

Data room is a digital platform that provides a secure data warehouse for business-critical documents, and a reliable collaborative workspace for better interaction with contractors. VDR software is more than a “better data security” and file-sharing solution. Rather, it is about secure and traceable cooperation within the company and across company boundaries, for example with partners and customers.

The data room goes beyond the sharing of files and offers users features that they might otherwise be familiar with from document management systems. For example, some companies no longer create and distribute heavy meeting folders for board meetings, but the participants receive exactly the documents they need directly via data room on their tablet – and can view them there, add notes or edit them. depending on what the security settings allow you to do.

 In addition to meetings and projects, there are also complex review processes, known as due diligence, that benefit from this type of audit-proof and reliable provision of documents. Flexible authorization management, reliable subsequent delivery of documents, and convenient coordination of the Q&A process are just as natural as the highest level of security and compliance. As soon as the purchase contract is concluded, you will receive an audit-proof data room export and a declaration of conformity.