A virtual data room is where companies can save and share privileged documents with selected third parties and reduces the chance that sensitive business information could be divulged to unauthorised individuals. Traditionally, due diligence was performed in physical rooms. However, nowadays, it’s done online, in what are known as virtual data rooms (VDRs).
The top VDR providers offer security-first features that significantly reduce the costs related to data breaches and the sharing of information that is not authorized. These include granular control over document access and access, multi-factor authentication, session timeouts, location restrictions secure spreadsheet viewers, watermarking, screen-blocking, and encryption. All of these build a strong digital fortress around the information stored and shared in the VDR which allows organizations to ensure compliance with the law and establish trust with their customers.
When selecting a secure data room, it is important to be sure that the solution is actually suitable for the job and does not just permit authorized users to log in and share your data on external platforms. Many “secure” systems claim that they stop this, but the fact is that they don’t they simply secure your files on the server and then send them to your browser.
To accomplish this it is based on the fact that your browser has a certificate, and that your browser is set to accept only certificates issued by a trusted source. This doesn’t mean that your VDR cannot be hacked. However it ensures that hackers are only able to access your encrypted files, and not your temporary ones.
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