The use of a virtual data space allows companies to share documents securely and effectively. This is especially important for companies involved in financial transactions, like mergers and acquisitions, in which sensitive documentation must be reviewed by the sell side or prospective investors. Often times, these documents are highly confidential and can’t be shared via email or other tools for sharing files, without a danger of leaks or breach of compliance.
The ability to create custom watermarks, and to restrict access to specific domains ensures that confidential information does not get lost. It lets users track the activities of their documents, and to track who viewed which documents and when. Additionally, a virtual data room offers 24/7 support via various channels (phone or email, live chat) and makes it easy for users to have questions answered and get prompt answers from a professional.
It is also worth noting that the security features of VDRs VDR exceed the standard compliances by allowing data be encrypted in both storage and transit, and adding dynamic watermarks to all printed and viewed documents. This means that even if the downloaded and/or printed versions of a using a virtual data room in different areas document are leaked and subsequently stolen, there is no way for hackers to exploit the documents to gain access to confidential company information.
If you’re thinking of implementing the concept of a virtual data space in your business, take a look at the website of the provider for thorough comparisons of their features and security measures. A reputable virtual data room provider should provide an opportunity for trial users to test the platform before you decide to invest.
