A virtual dataroom secure is a platform online where large volumes of confidential documents can be shared with security outside the data room in ma walls of a business. It is utilized for M&A due diligence, bankruptcy, litigation, fundraising audits or any other occasion when multiple parties are required to review sensitive data.
The most secure virtual data rooms are equipped with a variety of security features that are industry-leading to ensure that information stays where it’s supposed to be – in the data room. These features include physical security, granular permission settings and monitoring the activity of documents.
Data Center Security: The most secure VDRs utilize data centers of the highest quality with adequate physical security features including offsite data backups and redundancy of data, fire protection and biometric access control. They also have a strong business plan and conduct regular penetration tests.
Document Access Security: The most reliable virtual data rooms provide the ability to grant documents granular access rights which allow administrators to restrict access to specific folders and documents. They can specify viewing only, printing and downloading options. They also allow users to add dynamic watermarks onto printed and viewed document pages and establish time frames for access by users.
Privacy Security: A reputable VDR has been tested and meets or exceeds ISO 27001 compliance and is HIPAA compliant. It offers end to end encryption (E2EE) that blocks from unauthorized access to data by service providers or hackers.
Finaly, a VDR that is highly rated is certified by FINRA (Financial Industry Regulatory Authority) and SOC 2(Service Organization Controls) to ensure that it adheres to the strictest handling practices for safeguarding PII. This helps prevent hefty penalties and other legal costs that can be incurred due to data breaches, as well as the loss of revenue that may result from compromised trade secrets or plans.