Using a virtual data room allows companies to share documents securely and effectively. This is particularly important for companies that are involved in financial transactions, such as mergers and acquisitions where sensitive documents are required to be reviewed by sell-side or potential investors. These documents are typically highly private and cannot be shared via email or any other file sharing software without risking an information leak.
Additionally, the ability to create custom watermarks as well as restrict viewing to specific domains will ensure that confidential documents don’t get leaked. It also lets users monitor all document activity and easily determine who has viewed what documents and when. A virtual data room offers 24/7 support through a variety of channels (phones email, faxes, and live chats) and allows users to seek assistance from experts.
It is important to note that the security features provided by a VDR extend beyond typical compliances. They allow encryption of data both in storage and during transit as well as putting dynamic watermarks on all documents viewed or printed. This means that even when the downloaded or printed versions of a document are released to the public, thieves won’t be capable of accessing the sensitive data of your company.
If you’re thinking of setting up a virtual data room in your business, look on the websites of the providers for detailed comparisons of their capabilities and security measures. A reputable virtual room provider will also offer a trial period of no cost so that you can test the system before investing in it.