If you are a business owner, entrepreneur, professional, or service provider, there are three questions you should ask yourself:
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- Is your confidential business data safe?
- Are your sensitive files easy to access remotely?
- Is your business data effective in terms of management and expenses?
If your answer to all questions is no, then it is better to start looking for more reliable options such as virtual data room software.
Data room software is amongst the fastest growing and globally adopted data management solutions with an array of useful features for other purposes.
The most important thing about an electronic data room is its hard-to-beat security system. So let’s find out how online data room software helps to keep your data safe.
What is a secure virtual data room?
A secure virtual data room, in simplest words, is a cloud-based document storage facility globally used by thousands and millions of professionals, businesses, enterprises, government organizations, nonprofits, and corporations to store, share, and manage business data.
|Secure virtual data rooms comply with basic international data security standards such as SOC2, ISO 27081, ISO 27001, and other cyber security regulations. Apart from that, local regulatory authorities also require vendors to comply with local policies and standards as well.|
A secure data room solution also boasts the latest communication and collaboration tools that allow VDR users to communicate and share documents within the data room. The project management features, in combination with collaboration tools, provide a perfect platform for businesses to conduct important business deals online.
Thanks to the security, communication, and collaboration offered by data rooms, the financial sector and other industries carry out transactions like mergers, acquisitions, joint ventures, private equity acquisitions, asset trading, and fundraising.
Virtual data room software security explained
Though virtual data rooms are majorly known for their security features, there’s a different level of security an individual provider can offer. It depends on the feature set, compliance certificates, and technical limitations of the platform. Therefore, you should do your research before you choose a data room for your business or personal use. As a starting point, visit data-rooms.us for detailed data room reviews and expert opinions.
Here is how data rooms protect your business data.
1. Data room security
The most important security features of a virtual data room usually include:
- Two-step verification process. Any registered user can log into the data room after providing correct credentials at two stages — usually a password and a one-time generated code shared via email or text message.
- Remote purge. To protect data from accidental data loss because of lost or stolen devices, the remote device purging feature is used by the VDR administration to delete documents and the device from the data room.
- Audit trail. Lastly, audit logs or commonly known as audit trails, make sure the administration has a record of every single activity in the data room.
2. Document access control
Data room security generally protects the data room from external threats. Document access control allows the administration to deal with internal threats and ensure a fully manageable data flow.
The VDR administration can easily define users’ document access settings. That said, the admins can decide which users should be allowed to only view documents and the ones that can edit them. Apart from that, the management can also create a user group that can view, overwrite, edit, download, and print documents.
Data room management can also set scheduled access to virtual data room files. For instance, a user or any IP address can be restricted from accessing data room folders or files within a specified time.
3. Document security
Not every, but all high-end virtual data rooms offer some amazing document security features for document security. These include:
- Dynamic watermarks. Digital or dynamic watermarks can be text, audio, video, or image embedded in the document. These watermarks are very effective in tackling copyright issues and tracing all the changes made in the file.
- File tracking. The file tracking feature allows the file owner or creator to constantly track any document. That is, who used the document, changes made, how many users are using the document right now, and other similar details.
- Document access revocation. The administration in VDR or the file owner can revoke access to specific documents whenever needed. The file will be immediately removed from the device’s data storage and browser history.
- Fence view mode. It is one of the most useful data room features that protect any document from being scanned, photographed, edited, saved, downloaded, or even screenshot. If you are using the data room to present data to external parties, this feature can be super useful.
Rounding it up
Impeccable security is a benefit that differentiates virtual data room software from other options.
Data rooms protect your sensitive business documents in various forms. They also give you full control over the data flow in your virtual data room software. Besides, they are remotely accessible and help you reduce your paper and printing costs. And, last but not least, they offer top-notch, bank-grade security in the data room, document access, and file security level.