Utilizing a virtual data room allows companies to share documents in a secure and efficient manner. This is particularly crucial for businesses involved in financial transactions such as mergers and acquisitions, where sensitive documents must be scrutinized by the sell side or potential investors. Most of the time, these documents are extremely private and cannot be shared via email or other tools for sharing files without the risk of a data leak or breach of compliance.
The capability to create custom watermarks, as well as to limit access to specific domains, ensures that confidential information does not get divulged. It also lets users keep track of all document activity, and easily see who has viewed which documents and when. Lastly, a virtual data room provides support 24/7 via multiple channels (phone or email, or live chat) and makes it easy for users to ask questions and receive prompt responses from an expert.
It is also worth noting that the security features of a VDR exceed the standard compliances by allowing data be encrypted in both storage and transit, and adding dynamic watermarks to all viewed and printed documents. This means that even if the printed or downloaded versions the document are leaked, there is no way for criminals to exploit the documents to gain access to your company’s confidential data.
If you’re considering implementing the concept of a virtual data space in your business, take a look at the websites of the providers for detailed comparisons of their capabilities and security measures. A reliable virtual data rooms provider should offer a trial period for you to test out the software before making a decision to invest.