In today’s world, the problem of piracy or data theft is the most common and dangerous one. Faced with such a problem, many negative consequences await you, especially if it happened to a company. A data leak for a company jeopardizes its existence, and in the end, it loses a lot of funds, customers, and reputation, as well as being dragged to lawsuits for non-compliance with security rules. So the advent of the virtual data room has become a real boon for business leaders who want to protect their data more than anything else.
What is a virtual data room?
Virtual data room is a revolutionary solution for various business operations. Not only does it act as a secure repository, but it also allows you to organize, manage and share sensitive data with third-party users in your space with absolutely no risk. VDR is suitable for the most complex business transactions such as mergers and acquisitions, due diligence, audits, fundraisers, IPOs, real estate transactions, and more.
The Data Room allows you to comfortably manage transactions remotely, thus saving not only your time and costs but also speeding up the process itself, increasing your chances of success, all in absolute security.
How does VDR provide companies with security?
No two data rooms on the market are the same; providers only include features they think they need or can afford. However, we can trace a certain trend of features that most quality providers prefer. Below we list these features and highlight their benefits:
- Watermarks – allow you to protect your copyright on a particular document. They are either the logo of your company or project or just information and the user who uploaded the document to the space, as a sign of protection. It also makes it easy to identify the source of a data breach and get it cleaned up quickly
- Document remote shredding – allows you to block access to a document in one click, even if it has already been uploaded to a third party device
- Data encryption – encrypts documents, making them useless for unauthorized users. Only users who have the decryption key can read its contents. This feature also helps to minimize human error in case the user sends the document to an invalid address
- Restrict access to documents – allows you to control the level of confidentiality of the document yourself. You can block editing, printing, copying, forwarding, or uploading functions, as well as hide the visibility of files from any user, thereby narrowing the file view and increasing its privacy
- Backup data – backups happen all the time, so your documents will stay intact no matter what happens. You can always restore the latest backups
- Automatic virus scanning – takes place automatically while documents are downloaded to the space, it does not let any malware into the space
- Two Factor Authentication -protects against unauthorized logins that require additional information from users to log in. Hackers will not be able to simply crack the password or unlock it by brute force
- Multi-level scan – If a user wants to log in from a new device, he performs a thorough scan to make sure the account has not been hacked
- Document Version Control – makes it easy for administrators to keep track of document changes, you can see all the changes that have been made, and even reset them if necessary
This way, the VDR space doesn’t even give a chance for attempted data theft to occur. The monitoring features allow you to monitor all activity on the user.