03 Déc What is a Secure Data Room?
When important decisions have to be taken, such as a merger acquisition or capital raise There is often an obligation for outside third parties to scrutinize a company’s documents. This may require the thorough examination visit the website of thousands or tens of thousands of confidential documents. To allow this to happen without risking the possibility of data breaches and resulting in the possibility of a compliance breach, businesses have to utilize a virtual information room.
Secure data rooms are commonly called VDRs. They permit users to safely access and view sensitive data online. With top security features and a strong encryption, an VDR is the best option for transactions in business that require to be kept safe.
Secure datarooms facilitate efficient collaboration, allowing many stakeholders work on projects at simultaneously. It simplifies processes like Q&As and document versions making due diligence easier.
However, many’secure’ data rooms are based on an outdated model of login and passwords to safeguard documents. Any system that doesn’t stop authorized users sharing their login credentials (and consequently your documents) is not fit for use. The majority of the time these systems make huge claims about their security using terms like’most secure data room and ‘highest level of security’, etc. which is nothing more than marketing guff.
A secure dataroom employs an ISO 27001-certified security system that gives access with granular rights dynamic watermarking, two-factor authentication as well as other features to guard against breaches of documents in the real time. Additionally, it ensures that all user activity is tracked and recorded for auditing purposes. This is the only way to ensure your documents are protected when shared with third parties.