In today’s business, advanced technology is a company’s first assistant. Thanks to them, businesses can remain competitive, flexible, and efficient. A virtual data room, among other things, assures companies that their sensitive data is secure during storage and transmission. No due diligence and mergers and acquisitions are without a VDR solution. Data rooms simplify and automate many routine processes, accelerate deal closure, and minimize the risks of data breaches. In this article, we look at what security features VDR software offers.
What is a virtual data room?
Virtual data rooms have been an innovative solution for storing and sharing sensitive business data since the beginning of global digitalization. They have become a worthy substitute for physical storage companies that have long been used to transact and protect sensitive data. Protecting and maintaining such storage was expensive for businesses, and none of them were immune to fires, floods, or internal data breaches. Virtual data rooms have improved every aspect of their operations so that companies can transact faster and more securely. VDRs improve company productivity with centralized space, data management features, and effective communication tools. But the main part of the data room is still high-end security.
Physical security of VDRs
Although VDR is an online solution, it must meet several physical rules to be considered secure. Therefore, the breadth of VDR security features determines the data room pricing. For example, the best spaces offer physical security measures such as:
- Physical security – data centers are physically secured 24/7
- Secure infrastructure components – provides up to 99.5% server uptime
- Constant backups – copies of uploaded data are made at all times so that in the event of system failure or other incidents, your data can be easily recovered
- Disaster recovery saves copies to remote data centers to protect against natural disasters
- Multi-level data encryption -encrypts data in both storage and transmission
- Multiple server locations – processing centers are located on all continents for greater security
Secure access features
Flexible access settings help secure data from external threats of data leaks; they typically offer:
- Visibility settings-an administrator can select portions of documents that will not be available for users to view, depending on their role
- Single sign-on – makes it easy to move from one project to another without having to enter your credentials constantly
- Two Factor Authentication – In addition to a password, you must also enter a one-time code
- Registration of usage and reporting -internal auditing tracks any changes within the space
Document security features
One of the main reasons that transactions within the data room are possible is that the data that the company uploads to the space is not available for all users to view. Access control within the VDR is accomplished through functions such as:
- Detailed access permissions – the administrator can allow and block the ability to copy, print, forward, edit, and download the document
- Dynamic watermark – by attaching a watermark to a document, you protect your copyrights, and it also allows you to track the actions that have been performed on the record and shows the data of the user who performed these or those actions
- Fence view – protects from unauthorized photos or screenshots of VDR space
- Remote destruction -space administrator can remotely revoke access to a document from another user’s device
- Secure Excel viewer -protects data in Excel spreadsheets and also allows you to customize access rights