A secure virtual data room is a repository online where confidential business documents can be reviewed and shared. A VDR allows businesses to conduct M&A deals, acquire contracts, carry out due diligence and raise capital without having to disclose sensitive information to the wrong people.
A top-of-the-line VDR should include the following security features:
It is possible to secure documents both during transit and when the document is in storage. This prevents your information from being accessed by unauthorized users, even if they gain access to your password. Multi-factor authentication requires a second method to verify a user’s identification before they can access data. Activity monitoring to detect fraudulent logins and prevent them from occurring in the future.
Document permissions and restrictions are granted in granular settings, which prevent unauthorized document sharing and downloading. These features lower the risk of leakage of data and permit administrators to monitor each user’s activities within a project. Key management system that generates, distributes and stores encryption keys securely. strict auditing and conformity with industry-standard security practices, including ISO 27001, SOC 2 GDPR, and FINRA.
Selecting the appropriate VDR for your requirements is contingent on the type of data you’ll be uploading and how many users will have access it. If you’re storing sensitive data, choose one that offers the highest level of security as well as various features that will support your project. For example, if you’re hosting a project that involves other parties, consider opting for a VDR that has document watermarks to protect against printing and sharing without authorization.
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