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Online Data Room and SSL
Online data room and SSL
In terms of protecting sensitive information in a secure environment, the virtual data room (VDR) is more effective than free file sharing services like Dropbox or Google Drive. These services are ideal for sharing documents regularly however, they aren’t robust enough to handle major business events such as IPOs, M&A Due Diligence, tenders, and capital raising.
A VDR is a cloud-based solution that securely stores, manages and shares confidential information with multiple users on the internet via a browser-based interface. This makes it perfect for M&A, venture capital, fundraising and IP protection, as also project management and IP protection.
Many of the same features available on file-sharing platforms are also offered by VDRs, for example two-factor authentication (2FA) SSO, two-factor authentication (2FA), and the ability to grant granular permissions to users. VDRs offer additional security options such as IP restriction that blocks access to specific devices, continuous backups of data and 99.9% uptime.
Businesses that handle sensitive information regularly should opt for a VDR that is certified with ISO 27001 certification. This covers all the platform’s systems, operating procedures and infrastructure. In addition, a GDPR-compliant VDR is compliant with European standards for data protection while an ITAR-compliant version is in line with US regulations for military and defense-related documentation. Lastly, an HIPAA-compliant VDR adheres to national healthcare records keeping and transaction standards for electronic health records. This allows healthcare companies to share patient information that is confidential with outside partners in a secure environment.
