A virtual data room secure is a digital space where large quantities of confidential documents can be securely shared beyond the walls of a company. It is utilized for M&A due diligence, bankruptcy, litigation, fundraising audits, or any other occasion when multiple parties must review sensitive information.
The most secure virtual data rooms are armed with a variety of industry-strength security features to ensure that information stays where it is meant to be – inside the data room. These features include physical security and granular settings for permissions, as well as recording document activities.
Data Center Security: The most secure VDRs utilize data centers of the highest quality with sufficient physical security measures including offsite backups of data, data redundancy in the event of fire, and biometric access control. They also employ a strong business continuity plan, and go through regular penetration tests.
Document Access Security: The most effective virtual data rooms give specific permissions for documents that permit administrators to restrict access to specific folders and documents. They can also specify printing only, viewing only, and downloading options. Users can also add dynamic watermarks to pages of printed documents and pages that are viewed and set time limits for access.
Privacy Security: A VDR that is HIPAA compliant and is in compliance with ISO 27001 compliance or exceeds it, will offer privacy protection. It provides end-to-end encryption (E2EE) which blocks from unauthorized access to data by service providers or hackers.
Additionally, a top-rated VDR is certified by FINRA (Financial Industry Regulatory Authority) and SOC 2 (Service Organization Controls) which means it adheres to the highest standards of procedures for handling to protect PII. This will help to avoid large fines, legal costs and lost revenue associated with data breaches.