Online Data Room and SSL
Online data room and SSL
In terms of protecting confidential information in a safe environment, a virtual data room (VDR) performs better than free file sharing services such as Dropbox or Google Drive. These services are ideal for sharing documents regularly however they are not adequate enough to handle large business events, such as IPOs, M&A Due Diligence tenders, capital raising.
A VDR is a cloud-based solution that secures, stores, manages and shares confidential data with multiple users on the internet using a web browser interface. This makes it ideal for M&A and venture capital fundraising and IP protection as well as managing projects and IP protection.
Many of the features that are available in file-sharing programs are also available in a VDR. They include two-factor authentication (2FA), Single Sign-On (SSO) and user-specific permissions. However, VDRs have additional security measures, such as IP restriction (blocking access for certain devices) as well as continuous backup of data and 99.9% uptime ensuring documents will always be available for review.
Businesses that handle sensitive information regularly should opt for the VDR that is certified with ISO 27001 certification. This encompasses all the platform’s operational procedures, processes and infrastructure. A GDPR-compliant VDR also complies with European standards for data security as well as an ITAR compliant VDR adheres to US regulations that govern military and defense related documentation. Furthermore, an HIPAA-compliant VDR is in compliance with national healthcare transaction and record keeping standards for electronic health records. This allows healthcare companies the option of sharing confidential data with external partners in a secure environment.