The pandemic has pushed the business world into dramatic change. As a result, more and more companies are prioritizing virtual document and transaction management because it helps them remain mobile and efficient anytime, anywhere, regardless of external circumstances. However, for your online activities to be truly successful, you need to properly secure your sensitive data, which is why many organizations opt for best virtual data room solutions. You’ll see more about VDR security capabilities in this article.
What are virtual data rooms?
It used to be that to close deals, companies used so-called physical business rooms, where sensitive data was stored. Also, the data could be stored directly in the company’s office in filing cabinets. However, each department held its documentation separately. As a result, when it came time to gather a package of documents for any purpose, it always turned out to be a frenzy—physical storage of documents consumed too much time, effort, money, and physical space. In addition, the documents were more vulnerable this way because a person could not keep track of everything at once. As a result, documents were often damaged, lost, and, worst of all, stolen.
Virtual data rooms were created to end these problems. They are cloud-based online platforms that allow companies to upload digital documents to their secure space. VDR platforms can store data of varying degrees of privacy because they are licensed with multiple layers of protection. In addition, the data they need can be accessed from any device and location for authorized users. So even while on the road, you can perform your duties.
What makes a virtual data room secure?
Cloud storage today is a convenient and popular way to store your data, but shared cloud servers are only suitable for personal use; for storing sensitive data, it is worth using solutions with a high level of security. Below we highlight the security features that ensure the safety of virtual data room solutions:
- Presence of security certificates
Such a solution is unreliable if a virtual data room provider does not offer an international security license for its product. Quality VDR platforms have several security certificates, which ensure that the program only uses advanced security methods and can withstand all modern threats.
- Data encryption
The files inside the data room are encrypted with special security protocols. In addition, they are kept in a state both at rest and during transmission so that the contents of the document cannot be read in the event of a security breach.
- Two-factor authentication
With today’s cyber threats, a single password is not enough to protect access to sensitive documents. Therefore, virtual data rooms use two-factor authentication, which also requires entering an additional one-time code.
- IP restriction
When a user accesses a VDR, the program administrator can see his or her IP address and his or her location. If the administrator has any suspicions, he can easily trace who and when viewed certain files.
- Cleared permissions settings
Platform management has full control over what other users do with documents. They can deny visibility or partial visibility of a record, as well as copying, printing, editing, forwarding, uploading, and screenshotting. Prohibiting or allowing all of the above actions is set depending on the role of the users.
If someone has more freedom to act on a document, a watermark will help keep their privacy because it reads all the information about the user who accessed the document and their actions.