Security Data Rooms

Data Rooms are a method for storing and sharing confidential documents that are used in business processes as well as financial transactions. As opposed to physical storage, which is dependent on security measures such as secured rooms and surveillance cameras, or the presence of a lawyer to ensure confidentiality, Virtual Data Rooms (VDRs) are accessible anytime, anywhere that has an internet connection.

VDRs can be more secure than platforms such as Dropbox, Google Drive and email, because they are designed specifically for documents management that is designed for enterprise. They have features like multi-factor authentication and granular access controls, along with techniques to prevent leaks of data. This includes features that can prevent accidental or malicious deletions of data such as the ‘view-as’ tool and dynamic-watermarking.

Keep in mind that even resource the most secure platform can’t completely remove human error. This is why it’s crucial to choose a VDR that provides features to decrease the risk of error like audit trails that record every action within the VDR, and a user activity log that allows administrators to see when users have accessed and modified sensitive data.

Additionally, certain VDRs also have advanced artificial intelligence features that can streamline collaboration and file management by automating routine tasks. This will speed up the process and help keep files well-organized. It will also ensure that there are no duplicate documents. This is especially helpful when conducting due diligence on M&As, construction projects, or other situations that require large files to be exchanged between parties.