The security of sensitive information such as documents, agreements and financial statements, is an important consideration when it comes to business deals like initial public offerings, M&A lifecycle management, restructuring management of projects, restructuring, and many more. Generic file-sharing apps are useful but they don’t come with the features needed to reliably protect data during these deals. Virtual data rooms facilitate the management of sensitive documents in these situations and protect intellectual property of companies from unwanted snooping.
The most secure virtual data rooms offer advanced security features that stop unauthorised access to data that is crucial to business. These include 256-bit encrypted encryption at rest and in transit firewalls, as well as virus protection. Some providers also use multiple servers from different locations to ensure that data is always available and stored.
Physical security is another important aspect of a secure VDR. The best data centers are world class facilities with various levels and types fire protection. They also offer secure remote access using two-factor authentication. Some vendors even allow you to specify an exact location for your data center that is in line with your security policies.
Other features of a data room’s security to look for include password complexity changes and expiration requirements, timeouts for inactivity, and more. Some virtual datarooms let you block certain areas of a document so only the most important information is revealed. You can also include dynamic watermarks on documents to indicate which users viewed and printed them. These are particularly useful in situations where someone might have snuck a photo or scan of your documents.
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