A secure virtual data room is a secure online repository that allows for the storage and sharing sensitive information in a controlled environment. These specific solutions are essential to support complex projects as well as business processes that require disclosure of sensitive information to third parties outside the firewall of an organization. This includes the M&A process lawsuits, due diligence for PE/VC investments as well as fundraising.

Unlike generic file sharing services, such as Google Drive or Dropbox, data rooms concentrate on security at the system and document level. They rely on advanced encryption both in the process and at rest as well as multi-level authentication methods. They also offer options like watermarking, blind view and printing that is disabled to avoid accidental disclosures.

Some VDR providers make bold claims regarding the security of their system, using terms like’most secure data room virtual’ and a ‘highly secured data room.’ The truth is that any system that allows authorized users to share login links or other documents with non-authorized users isn’t secure. Two-factor authentication isn’t enough to prevent this since a user is able to easily forward the second URL to others.

Look for a VDR provider that has ISO 27001 accreditation – this is the gold standard for information security management systems. Look for a VDR which provides precise activity tracking as well as granular permissions that allow you to track who has accessed what documents. This is particularly crucial for M&A or fundraising processes, as it can provide you with information about the level of interest your shared files generate among bidders.


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