Online data room and SSL
In terms of protecting private information in a secure environment, the virtual data room (VDR) does better than free file sharing options like Dropbox or Google Drive. These services are ideal for sharing documents on a regular basis 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 securely stores, manages, and shares confidential information with multiple users through the internet via web-based interface. This makes it ideal 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 available in file-sharing services are also offered by VDRs, including two-factor authentication (2FA) SSO, two-factor authentication (2FA), and granted user permissions for granular users. However, VDRs have additional security measures such as IP restriction (blocking access for specific devices) as well as continuous backup of data and 99.9 percent uptime, which means that documents are always available for review.
Companies that handle sensitive data regularly should opt for the VDR that is certified with ISO 27001 certification. This encompasses all the platform’s operations, procedures, and infrastructure. In addition, a GDPR compliant VDR conforms great site to European data protection standards while an ITAR-compliant version adheres to US guidelines for military and defense-related documentation. A HIPAA compliant VDR conforms to national healthcare transaction and record-keeping standards for electronic records. This gives healthcare organizations the possibility of sharing confidential data with external partners in a secure environment.