Virtual Data Room – Protect Confidential Documents

Virtual Data Room provides a secure, centralized place for authorized parties to access and share digital files with total transparency. Life sciences and technology are the most frequent users of VDR, but businesses of all kinds need to protect confidential documents. When evaluating possible VDR providers, look at features like insights on usage of files as well as robust controls and custom permission settings to ensure that your documents are shared and protected. It is essential to choose a platform that is able to be scaled both up and down, allowing for the flexibility to open and shut down an online repository in order to meet your project or transaction needs with minimal disruption.

A reliable provider has strict physical security measures, such as offsite backups of data. Multiple layers of firewalls are also suggested to prevent unauthorised entry. Additionally, a virtual data room should allow administrators to track document and user activity to determine who is accessing what, when and where documents are being accessed, printed or downloaded. The ability to apply dynamic watermarks to all pages of printed or viewed documents further strengthens the protection of sensitive data.

VDRs are typically utilized for M&A due-diligence, however they can be used in any situation that requires a high level of security and privacy. For example private equity firms and funds can safely share portfolio information and tax data with prospective investors via a VDR. Furthermore, a virtual information room can speed up the process of reviewing contracts by incorporating features like automatic redaction and document organization to ensure that PII is not disclosed.

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