VDR security is an important consideration for many companies looking to set up an online repository for their documents. The most secure virtual data room software offers an array of industry-leading features that protect sensitive information from compliancy and security breaches. These include advanced encryption both in transit and in rest. They also provide flexible user permissions and discrete logs. Some providers also provide additional tools to protect documents like blind view and watermarking, which can prevent printing without authorization.
Most commonly, VDRs are used to aid in M&A processes, but they can be beneficial for any business that needs to share sensitive information with other parties. When third parties, like legal counsel or auditors outside of the company, need to review confidential documents, businesses need a platform that is easy to use.
Financial and real estate services usually require sharing extensive documentation with potential investors, lenders and other stakeholders. These include financial and blueprints as well as information about property. Traditional file sharing tools such as email or simple cloud storage aren’t equipped to handle this amount of highly sensitive information and do not provide the necessary authorization settings and auditing capabilities, nor secure collaboration options.
In this scenario, the virtual data room is a tool that could meet all of these requirements. It also gives 24/7 access to users who are authorized. A VDR ensures that sensitive data is handled in line with rapidly evolving laws. This lets you be confident that your business is always compliant.