Online data room and SSL
When it comes to protecting confidential 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 great for sharing documents regularly but they’re not robust enough to handle the demands of major business events such as IPOs, M&A Due Diligence, tenders, and capital raising.
A VDR is a cloud-based solution which securely stores the data, manages it and shares the data with multiple users on the internet using a web browser interface. This makes it suitable for use in M&A deals, venture capital and fundraising as in IP protection and managing projects.
Many of the features offered by file-sharing apps are also available in VDRs. Many of the features found in file-sharing applications can also be found in. They include two-factor authentication (2FA) as well as Single Sign-On (SSO) and specific permissions for users. However, VDRs have additional security measures like IP restriction (blocking access to certain devices) and continuous backup of data and 99.9 percent uptime to ensure that documents are always available for review.
Companies that handle sensitive data regularly should opt for the VDR that has ISO 27001 certification. This covers all the platforms’ operating procedures, systems, and infrastructure. A GDPR-compliant VDR also meets European standards for data protection and data security, while an ITAR certified VDR adheres to US regulations that govern military and defense related documentation. In addition, an HIPAA compliant VDR is compliant with national healthcare transaction and record keeping standards for electronic health records. This allows healthcare companies the ability to share confidential data with outside partners in a secure and secure environment.