Online data room and SSL
A virtual data room (VDR), for the purpose of protecting confidential documents in a safe environment, is superior to free file-sharing services such as Dropbox or Google Drive. These services are great for sharing files regularly however, they aren’t sufficient enough to handle major corporate events like IPOs, M&A Due Diligence tenders, capital raising.
A VDR is an online solution that securely stores and manages private information with multiple users via the internet using the browser-based interface. This makes it perfect for M&A as well as venture capital fundraising and IP protection, as in addition to management of projects and IP protection.
Many of the features found in file-sharing services are also available on VDRs, for example two-factor authentication (2FA), SSO and the ability to grant granular permissions to users. VDRs offer additional security options like IP restriction which restricts access to specific devices, continuous data backups and 99.9% uptime.
Companies that handle sensitive data regularly should choose a VDR that is certified with ISO 27001 certification. This covers all the platform’s operations, procedures, and infrastructure. A GDPR-compliant VDR also meets European standards for protecting data and security, while an ITAR certified VDR is in compliance with US regulations that govern documents related to defense and military. Lastly, an HIPAA-compliant VDR conforms to national healthcare records and transaction standards for electronic health records. This permits healthcare providers to share confidential patient information with outside partners in a secure environment.
