Virtual Data Room – Protect Confidential Documents

Virtual Data Room provides a secure, centrally accessible area for authorized users to access and share digital documents in total transparency. The bulkiest VDR users are in life sciences and technology, however businesses across all industries must secure confidential documents. When looking at potential VDR providers, consider features like insights on usage of files as well as robust controls and custom permission settings to ensure that your documents are securely shared and secured. It is crucial to have an online platform that can be scaled up and down, which allows for the possibility of opening and closing an online repository in order to accommodate transaction or project requirements with minimal disruption.

A reliable provider has strict physical security measures that include offsite backups of data. Multiple layers of firewalls are recommended to prevent unauthorized entry. Additionally, a virtual data room should allow administrators to observe document and user activity to determine who is using the documents, and when they are being printed, accessed or downloaded. The capability to add dynamic watermarks to all printed and viewed pages of documents further increases the security of sensitive information.

The most common use case for VDR is that of VDR is M&A due diligence, however it can be deployed in any situation where high levels of security and privacy are required. Private equity funds and companies, for example, can securely share tax information and portfolio information with potential investors through a VDR. A virtual data room can simplify contract review by incorporating features like automated redaction and document organization. This guarantees that PII will not be disclosed.

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