Drooms data room overview
Drooms GmbH is an industry-leading virtual data room solution founded in 2001 and headquartered in Frankfurt. The platform is in high demand in Europe and worldwide across various industries. It offers reliable features for data access control and asset lifecycle management.
This virtual data room is a good choice for such confidential business processes as due diligence, mergers and acquisitions, commercial real estate sales, board communications, and non-performing loans.
Companies use the Drooms virtual data room software for investment banking, legal services, financial services, real estate, the life sciences, energy, and others.
Drooms data rooms are divided into two categories: Drooms TRANSACTION and Drooms PORTFOLIO. The former option is for processes that include online due diligence, and the latter relates to lifecycle asset management.
What is Drooms TRANSACTION?
Drooms TRANSACTION is software enhanced with blockchain technology to make a virtual data room even more reliable. This provider processes documents very quickly and keeps them up-to-date and accessible. All authorized users can work with files from anywhere, anytime, which facilitates the due diligence process and many other operations. They won’t even need to install additional software — Drooms is accessible via a web browser.
Drooms TRANSACTION data room features
This business software’s features help users structure confidential documents, automate workflows, and conveniently communicate with colleagues and partners.
- Drag-n-drop and quick access. With Drooms, uploading documents is quick as users can drag files into the virtual workspace and upload them with a single click. Also, instant access technology displays files immediately upon opening, saving time.
- Optimized search. The advanced OCR engine system searches for keywords, similar terms, and synonyms. Then Drooms flags all the hits.
- Q&A. Drooms virtual data rooms deliver an easy-to-setup, intuitive, and self-operating Q&A module. Specifically, it’s easy for an admin to set up a module with multiple levels of approval, and experts can add an attachment to their answer or link it to a file in the repository.
- Document translation. This option is powered by artificial intelligence and enables real-time content translation into French, German, Italian, Spanish, and Dutch.
- Notes and highlights. All virtual data room users can leave comments. It’s also easy to find any content or bookmarks using the search engine and filtering to see the files they need in the bookmarks bar.
- Index allocation. Users can upload files in batches, and the platform assigns the correct index points to order the data structure.
What is Drooms PORTFOLIO?
Drooms PORTFOLIO was designed to make asset management easier. Instead of making businesses keep all of their assets in one virtual data room, Drooms software offers a dedicated data room for each asset. All the data rooms are kept within one platform and are easy to reach. While PORTFOLIO is similar to TRANSACTION, the Drooms data room services dedicated to asset management are more focused on putting a positive spin on a business.
Drooms PORTFOLIO data room features
A Drooms VDR offers opportunities to save costs and drive growth efficiently by providing a comprehensive approach to portfolio management. Thus, directors get the following:
- Complete portfolio visibility and secure access to assets in a single safe space.
- Instant virtual data room search for necessary information across all assets.
- Quick data browsing with the ability to tag relevant documents and check areas of interest with the Drooms Findings Manager.
- Tools for granting stakeholders access with specific permissions and making them responsible for updating data.
- Repetitive tasks automatization, including naming files and sorting them into respective indexes.
- Working on the platform in the user’s favorite language.
- Drooms’ metadata feature for collecting data, enriching it, and ensuring the completeness of the information.
Drooms services might lack some top-quality features. However, in general, it is a solid data room that will support a user’s company through deals and other document-related business processes.
Drooms security features
Even though the Drooms program is inferior to somesuch advanced providers as an iDeals virtual data room, Drooms security mechanisms are still quite reliable and robust. Therefore, the provider can offer sufficient virtual data room security for small or large-sized enterprises.
Measures for sensitive data protection
This virtual data room feature set protects against loss of valuable documents, unjustified modification, or processing.
- Private servers
A Drooms VDR keeps customer data on proprietary servers in Switzerland or Germany. Only the provider has access to them.
- Security audits
The company is ISO 27001:2013 certified, which indicates it implements the world’s best data room security practices.
- GDPR compliance
Compliance with this regulation proves the virtual data room software meets European requirements for handling personal data.
- Secure data processing
All data processing takes place in Germany. As for Swiss users, there is a storage facility in Switzerland for them.
- Vulnerability management
The software contains mechanisms for security tests and internal scanning. In case of emergencies, the virtual data room action plan ensures the integrity and safety of documents.
- Overall system stability
Documents in the virtual data room are always accessible, secure, and confidential, thanks to a layered architectural system and encryption at rest.
Features for securing workflows
These features ensure the security of work processes and data sharing inside and outside businesses.
- Multi-factor authentication
To sign in to the virtual data room, an authorized user receives an additional code sent via SMS to a personal device.
- IP filtering
Admins can restrict access to virtual data room storage at the group level for particular IP addresses to limit the data available to specific devices.
- High-end encryption
The software provider uses TLS connections with robust ciphers and encryption protocols, ensuring high data transmission security.
- Detailed reporting
The program-generated complete reports of each user’s activity allow directors to manage transactions and workflows more efficiently.
- User permission controls
Drooms allows users to set individual permissions for viewing, storing, sharing, and printing at the user and document level.
Drooms data room pricing options
The Drooms data room provider offers flexible individual pricing — users can choose features vital for their workflows and deals, indicating the platform’s cost. Potential subscribers can contact the provider to get pricing details and personalized recommendations to meet their organization’s needs.
According to their official website, the virtual data room starting price is €12.90 user/month and covers ten users and three gigabytes of data storage. In addition, this includes:
- around-the-clock online tech support
- two-factor authentication
- notes and highlights
- search engine
- virtual data room branding
As for Q&A, document translation, permissions, and indexing, they are available for an additional €5 user/month. Also, a set of two data room archive USBs costs €500, with each additional one costing €120.
Admins can submit a request for a 30-day free trial through the site. The free trial includes five users, one GB of data storage, two-factor authentication, notes and highlights, a search feature, branding, Q&A, index allocation, translation, advanced permissions, and online technical support.
Drooms virtual data room software deployment
Drooms data room is available as:
- SaaS, Cloud, and Web-Based
- Desktop Mac
- Desktop Windows
- Mobile iPhone
- Mobile iPad
The virtual data room system is not available as:
- Desktop Linux
- Desktop Chromebook
- On-premise Windows
- On-premise Linux
- Mobile Android
Drooms virtual data room customer support
According to independent review sites, Drooms data room experts provide businesses with fast and high-quality support in multiple languages. Users can request help 24/7 via email or phone if they have installation or usage problems, technical questions, or program error messages.
Also, users may benefit from an informative Q&A resource on the provider’s website, which can improve the user’s virtual data room experience.
As for training, the vendor offers it in the following forms:
- Live online
Videos, unlike other virtual data room providers, are not on the list of Drooms services.
This was our first data room when we created our company. I really liked it because it offered the necessary features, and the support team was very helpful when we got stuck with something. I would really recommend Drooms for IPOs or fundraising because of its asset management focus. The Portfolio category is great for creating a trustworthy image.
I picked Drooms because it’s based on blockchain technology, and as a passionate crypto user I trust this tech. All the other features are very standard, so if you’re looking for some advanced solution, this provider is not for you. However, I am rather satisfied with this data room, and I don’t need more functions so far.
The service is divided into two parts - one is for asset management, and another is for transactions. Perhaps, that’s a good solution as the Portfolio part allows you to create a better image for your company. However, I’m still figuring out all the features. I feel like this data room might be too complicated for beginners.
We’re using Drooms for M&A deals, and I like that the data room is divided into two parts. This allows us to have better control of all the processes, and I can assign different people to manage the Transactions and Portfolio parts. The access management is not as detailed as I would like it to be though. I often feel limited when I set up permissions for a new deal.