A virtual data room (VDR) is a safe space for sharing confidential files online outside the walls of a business. It can be used to conduct due diligence in M&A deals as well as banking transactions, fundraising, litigation, and audits. It’s similar to a company extranet, but more advanced in terms security. The most secure VDR providers provide a variety of features that defend against third-party access to sensitive information.
The most essential features include audit logs and specific permissions for documents. Two-factor authentication is also essential. This is critical for keeping documents secure from the eyes of prying eyes. Additionally, it’s important to ensure that the VDR you choose has a flexible and user-friendly interface. You should also look for an online data room that offers support 24/7 since your customers may be using it all over the world.
It’s also important whether the VDR you’re considering uses secure encryption methods. This will ensure that the data that is transferred to and from the server in the cloud is secured. The top virtual data rooms have advanced security certifications, as well as a wide variety of security features. In addition, they store and share information on a project by basis, which enhances security as a customer given access to one virtual data room can’t snoop through other projects or files. Additionally, they provide an exhaustive overview of who accessed what files and when. They can even revoke access to files that have been downloaded thanks to the built-in electronic rights management (DRM) security feature.