VDRs began offering their services about 20 years ago, with the advent of the Internet. Even then, it meant that paper documents were starting to die out a bit. Now, VDRs are considered one of the most secure ways to store sensitive data, but what’s so special about them? After all, there are plenty of free cloud platforms, email, and other ways to share files. In this article, we will explain why VDR is the best solution for saving sensitive company data and what features it applies to protect it.
Virtual Data Room vs. Other Ways to Store Data
In the past, so-called physical data rooms existed to store sensitive data and close deals. These were huge buildings that held stacks of papers, had people working there, and entrepreneurs came there to close deals. It was all costly (staff salaries, renting the space, printing and stapling documents), time-consuming (for travel and negotiations), and hard work. Also, due to the factor of human error, all sorts of mishaps could occur that delayed the process of the deal. They were replaced by the Internet and many platforms for the exchange of documents, but the low level of security and constant attacks by cybercriminals often damaged the company’s business by stealing data or infecting their systems through spam.
Security became much more serious, and that’s when VDRs became popular. These online spaces are equipped with the most powerful security tools that allow documents to be freely stored and exchanged within the program. They are flexible and give you access anytime, anywhere, dramatically reduce your costs, and streamline and accelerate your transaction processes. Now it is an indispensable tool for many and below we will tell you about their features.
What does VDR have to offer you?
Below we will tell you in more detail about what processes can become faster and more convenient if you use a virtual data room:
- Secure protection of uploaded data – Paper documents are expensive, inappropriate, and unfashionable, transfer all your data to digital format and upload it to VDR space without any risk. Best data protection methods equate to the protection of banks
- Secure file sharing and control – this feature makes remote transactions possible. Exchange documents with third parties without the risk of data leakage because you control the level of access to the documents yourself
- Effective collaboration -Some providers offer great collaboration tools that improve productivity and friendliness
What security features do VDR offer?
Due diligence virtual data room perform such features as:
- Encryption – Encrypting documents makes them useless in case they are stolen, it is impossible to decrypt them without a special key
- Document interaction control – the VDR administrator has the right to give and revoke access to absolutely any user. He can also deny some document interaction functions (printing, screenshot, copying, etc.) which also protects against data leakage
- Dynamic watermarks – they are put on every file and indicate private property. Thanks to them you can keep track of your documents, those who view or print them
- Complicated login system – this authentication asks not only your password but also other data like code, this is done to prevent hackers from cracking the password of one of your employees
- Audit logs – WDR provides you with an automatic report on all actions that took place inside the program, including actions with documents
- SSO is a convenient function that saves you time and with the help of one username and password allows you to enter several applications