A virtual data room is a place that businesses can keep and share sensitive documents with a select number of third parties, which minimizes the risk that sensitive business information could be released to non-authorized individuals. Traditionally, due diligence took place in physical rooms, however today, it occurs online in what’s known as virtual data rooms (VDRs).
The top VDRs have security-first features that help reduce the risk of data breaches as well as unauthorized sharing. They include granular access control with multi-factor authentication, as well as session timeouts. They also have security restrictions on location, secure spreadsheet viewers, as well watermarking and screen-blocking. All of these features combine to create a secure digital fortress that safeguards the data stored in the VDR and is shared with customers.
However, when selecting a secure data space, it is important to make sure that the system is actually suitable for the job and does not just permit authorized users to log in and share your files with other platforms. A lot of “secure” solutions claim to stop this, but what’s really happening is that they don’t they simply make your files encrypted on the server, before delivering them to your browser.
To do this they rely on fact that your browser has certificates, and your browser is configured to accept only certificates issued by an authentic source. This doesn’t mean that your VDR can’t be hacked. However it will ensure that hackers can only access your encrypted files and not your temporary ones.
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