Keeping data safe is key to managing breaches, financial loss, and reputational harm. A virtual data room (VDR) can be a practical way to share and store sensitive data. VDR platforms come with security features you can use to safeguard your company’s information. Here are a few ways a VDR can help protect your privacy:
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Virtual Data Rooms
A VDR is an online platform that offers a safe way to share sensitive data internally and with third parties. This cloud storage system comes with various security features, such as encryption to safeguard information. Also known as a deal room, this software can be useful for:
- Clinical trials
- Intellectual property management
- Mergers and acquisitions (M&A)
With a VDR, you can gather documentation, generate reports, and perform due diligence. You can get your deal started quickly and work more efficiently with the help of a data room.
Virtual Data Room Features
With a virtual deal room, you can share files with clients and invite them to collaborate. Here are some security features you can expect in a VDR:
A VDR has strong encryption techniques to safeguard your files during storage and sharing. Some VDR providers offer software with ISO certification to boost its security standards. This feature can prevent your company’s information from leaking to unwanted parties. You can take advantage of multi-layered data encryption to share bulk files.
Digital watermarking refers to using an embedded marker on a document, whether it’s audio, text, or image. A deal room allows you to watermark files to claim ownership or rights. With digital watermarks, you can track downloading and printing information. As the VDR administrator, you can oversee the view time and who downloaded or printed your company’s data.
Granular Permission and Restriction Settings
Secure VDRs have “view only” settings to prevent data from being shared, copied, or printed without permission. A data room administrator can restrict access to certain files. You can share a section of files with a team member or client and conceal the rest. This feature can also allow you to limit who can edit, comment, save, and view sensitive information.
Analytics and Reports
A safe deal room can come with audit logs that keep a record of the views, downloads, and prints. Administrators can opt to get alerts or notifications when users upload new files or make updates. Document version control can enable you to view and track all changes or savings of files and folders. You can check the time stamps of every activity within the deal room.
Two-factor authentication provides another level of data protection by preventing the wrong users from accessing the deal room. Users are required to log in using a password and code sent to their mobile phones. Users might need to provide additional information to access the VDR.
A virtual deal room software can have customized non-disclosure agreements (NDAs) for respective clients. This NDA can prevent people from sharing sensitive information. Clients can sign NDAs online using a DocuSign feature within the VDR. Different users can sign the NDA before accessing any company documents.
With data backup, your information is secure in case something happens. You can recover and access all your key files within the VDR. With authentication and encryption, a deal room can back up your data easily. Losing company or client information can result in losses or lawsuits. Using a VDR can manage such risks and potentially boost your company’s reputation.
Device and Location Locking
Administrators can limit the number of devices for each user within the VDR. This approach can help you monitor any activity and prevent sharing. A deal room can enable you to see the IP address or location of every user. With this information, you can revoke access to your company’s documents to control any leaks.
Protect Your Documents With a Secure Data Room
A secure data room can keep your documents private and confidential regardless of the business operation or transaction. A deal room can hold your files or folders in a safe data center for easy sharing and collaboration. Choose a VDR with top security features to help prevent costly data breaches.