Online Data Room and SSL

Online data room and SSL

In terms of protecting confidential information in a secure environment, the virtual data room (VDR) is more effective than free file sharing platforms like Dropbox or Google Drive. These services are great for sharing files frequently however they are not sufficient enough to handle major business events, such as IPOs, M&A Due Diligence, tenders, and capital raising.

A VDR is an online solution that secures, stores, manages, and shares private information with multiple users through the internet via the browser-based interface. This makes it suitable for use in M&A deals as well as fundraising and venture capital as well as IP protection and project management.

Many of the features that are found in file-sharing applications are also available in a VDR. These include two-factor authentication (2FA) as well as Single Sign-On (SSO) and specific permissions for users. However, VDRs have additional security measures, including IP restriction (blocking access to certain devices) and continuous backups of data and 99.9 percent uptime, which means that documents will always be accessible to review.

For businesses that deal with sensitive information regularly the best choice is to choose a VDR that has an ISO 27001 certification, which covers the entire platform’s operating procedures as well as infrastructure, systems and procedures. Additionally, a GDPR-compliant VDR has been tested to meet European standards for data protection, while an ITAR-compliant one adheres to US regulations regarding military and defense-related documentation. Furthermore, an HIPAA-compliant VDR adheres to national healthcare transaction and record keeping standards for electronic health records. This allows healthcare companies to share patient information that is confidential with outside partners in a secure environment.

Share on facebook
Share on twitter
Share on linkedin