Use FileFlex Enterprise to Create Virtual Data Rooms

Now with FileFlex Enterprise, you don’t need to build or pay for expensive third-party hosted data room services. You can easily create as many data rooms as you like where files and folders of information can be securely and privately uploaded without cost by your associates, vendors, suppliers and clients.

 

Used to facilitate legal book of documents, discovery, due diligence, M&A transactions, loan syndication, private equity and venture capital, a virtual data room (or deal room) is a repository of information that is used for the mutual storing and distribution of confidential electronic documents.

Until FileFlex Enterprise a virtual data room was essentially a website usually hosted by a third-party vendor with limited access that allowed authorized parties to view information in a controlled confidential environment.

Now with FileFlex Enterprise, you don’t need to build or pay for expensive third-party hosted data room services. You can easily create as many data rooms as you like where files and folders of information can be securely and privately uploaded without cost by your associates, vendors, suppliers and clients.  These folders can be on your own on-premises storage behind your firewall, they can be on your Infrastructure-as-a-Service providers such as Azure and AWS, they can be in a SharePoint library or even in a public cloud.  Only you know the location of your data rooms, they are abstracted to the recipient.  Files can then be either accessed by your recipients in ‘view-only’ or ‘view & print only’ mode where downloading and electronic distribution of data room content is prohibited, or they can be accessed with full editing and collaboration rights.   Permissions can even be further refined on a user-by-user basis.

How it works

With FileFlex Enterprise a data room is a folder located somewhere on the storage infrastructure that the user shares with someone and allows them upload rights.  The recipient has visibility to what is in the folder and they can add files to the folder by dragging and dropping them.

In the example below I have set up virtual data room folders for 3 clients by simply creating folders that can be shared.  I created them in our Infrastructure-as-a-Service storage, but they could have been created in any of my permitted storage repositories.

Create folders that will be used as  Virtual Data Rooms

I then click the down arrow for the folder/data room that I want to share and choose ‘Share’.

Share the folder/data room

In the sharing options, I allow for uploads by clicking the ‘Upload’ radio button.  This converts the folder into a virtual data room by allowing the recipient to upload files and folders.

 

Click the ‘Upload‘ permission radio button

I can further refine the sharing permissions and make the data room ‘view-only’, I can allow for the client to make a hard copy with ‘Print’, I can give them download rights or I can give them editing rights at my discretion.  I can also set an automatic expiry to the data room if I want.  I can even make some recipients observers only where they can access the folder, but are not granted upload rights. All the sharing options can be set on a user-by-user basis with different users of the data room having different permission levels.  Under my paid subscription I can give as many recipients as I want access to this data room. There is no cost to them or additional cost to me in the creation or sharing of this data room and I can create as many data rooms as I need.

 

Set folder permission levels per user

The recipient receives access to the folder.  You will notice that the location of the data room has been abstracted – the recipient does not know that it is on our corporate Infrastructure-as-a-Service storage.

Recipient view

They open the folder and then can drag and drop files into it.

 

Recipients drag and drop files and folders into the data room

Tom Ward is the VP of Marketing for Qnext Corp. He is an expert in the technology industry with a history of achievement. Tom holds an MBA from the Schulich School of Business at York University.