Security Data Rooms

Data Rooms are the solution for storing, sharing and managing confidential documents used for business processes or financial transactions. Contrary to physical storage that relies on security measures like locked rooms and surveillance cameras, or the presence of a lawyer in order to protect privacy, Virtual Data Rooms (VDRs) are accessible anytime anywhere via an internet connection.

VDRs are often more secure than platforms like Dropbox, Google Drive, and email due to the fact that they are specifically designed for documents that are designed for enterprise use, and have features such as multi-factor authentication and granular permission control, and data leak prevention technologies. This includes encryption of data-at-rest and features to prevent accidental or malicious deletions, such as the ‘view as’ tool and dynamic watermarking.

Remember that even the most secure platform isn’t able to completely remove human error. That’s why it’s important to select a VDR with features that decrease the risk of error like audit trails that document all activity within the VDR and an activity log that lets administrators know when users have accessed and altered sensitive data.

Certain VDRs have advanced artificial intelligence functions that can streamline collaboration and file management, as well as automate routine tasks. This will help speed up the process and keep files well-organized. It also ensures that there are no duplicate documents. This is particularly beneficial to ensure due diligence during M&A construction projects, and other scenarios where large files are required to be shared with different parties.

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