Security Data Rooms

Security Data Rooms

Data Rooms are a solution to store and share confidential documents used in business processes and financial transactions. Contrary to physical storage that is dependent on security measures such as locked rooms and surveillance cameras, or the presence of a lawyer to maintain the confidentiality of documents, Virtual Data Rooms (VDRs) are accessible online at any time anywhere via an internet connection.

VDRs are typically more secure than platforms like Dropbox, Google Drive, and email due to the fact that they are specifically geared towards enterprise-grade document management with features such as multi-factor authentication and granular permission control, and data leak prevention technologies. This includes encryption of data-at-rest and features that can prevent accidental or malicious deletions, like the ‘view as’ tool and dynamic watermarking.

It is important to keep in mind that even the most secure platform is not a panacea human error is likely to still occur. This is why it’s crucial to choose a VDR that offers features to reduce the risk of errors like audit trails that record all activities within the VDR and a user activity log that allows administrators to see when users have accessed and altered sensitive data.

In addition, some VDRs come with advanced artificial intelligence capabilities that can improve collaboration and management of files by automating the routine tasks. This will speed up the process and keep files organized. It will also ensure that there are no duplicate documents. This is particularly useful to ensure due diligence during M&A construction projects, or other situations in which large files must be exchanged with various parties.

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