Choosing a VDR for ma Confidentiality Safeguarding Your Data

A company stepping into a new stage of development is often required to share confidential data with third parties. M&A deals are among the most popular, but they are not the only instances when companies must divulge crucial information to third parties. In many instances regulators, consultants accountants, compliance auditors, and accountants must scrutinize confidential documents. Virtual data rooms make it possible for this to happen securely and efficiently.

When you’re choosing a VDR to protect your data and confidentiality ensure that you select one with high-end security features. For example, the best ones offer 256-bit encryption both at rest and while in transit and, even if hackers succeed in accessing files, they will be unable to read them. Administrators can also determine expiration dates as well as control access to the document level. They also allow for tracking the user’s activity using granular information such as IP address, date and time of logins.

In addition to having a secure environment, a great VDR will have features that enable collaboration with third-party companies. For instance, a Q&A module that allows participants to ask questions in a structured manner instead of using unsecure communication channels. It also has the option of limiting printing and downloading of documents in order to keep your data secure.

Two-factor authentication is an additional feature that can protect against unauthorised access. Make sure that the VDR allows you to restrict access to folders, group roles and document levels. Additionally, a great VDR will come with an annotation tool so that you can take notes on a file and they won’t be viewed by other people.

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