A virtual dataroom secure is an online platform that allows large volumes confidential documents can be shared securely beyond the boundaries of a business. It is usually utilized for M&A deals due diligence, litigation, bankruptcies as well as fundraising, audits and other matters – any time multiple parties require the review of sensitive information.
The most secure virtual datarooms have an array of security features that meet industry standards to ensure that information stays exactly where it belongs – inside the data room. These security features include physical safety with granular permissions and settings, as well as tracking document activities.
Data Center Security: The most secure VDRs make use of data centers that are industry-standard equipped with adequate physical security measures including offsite data backups as well as data redundancy, fire protection and biometric access control. They also have a robust business plan and regularly conduct penetration tests.
Document Access Security: The most secure virtual data rooms provide the ability to grant documents granular access rights that permit administrators to restrict access to certain folders and documents. They can define printing only, viewing only, and downloading options. They also allow users to add dynamic watermarks onto printed and viewed pages and establish time frames for user access.
Privacy Security The VDR that is HIPAA compliant and is in compliance with ISO 27001 compliance or exceeds it, will offer privacy security. It offers end to end encryption (E2EE) which impedes unauthorised access to information by hackers or service providers.
Finaly, a VDR that is highly rated will be certified by FINRA (Financial Industry Regulatory Authority) and SOC 2(Service Organization Controls) to ensure that it adheres to the strictest handling practices to protect PII. This can help in avoiding the massive fines, legal fees and lost revenue associated with data breaches.
