Online data room and SSL
When it comes to securing private information in a secure environment, a virtual data room (VDR) is superior to free file sharing services such as Dropbox or Google Drive. These services are suitable for everyday document sharing, but are not robust enough to handle major business events like IPOs, M&A due diligence tenders, capital raisings, and tenders.
A VDR is a cloud-based service that secures, stores and manages confidential 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 well as IP protection and managing projects.
Many of the features available on file-sharing platforms are also offered by a VDR, such as two-factor authentication (2FA) SSO, two-factor authentication (2FA), and granular user permissions. VDRs offer additional security options such as IP restriction, which blocks access to certain devices, continuous data backups and 99.9 percent uptime.
If you are a business that handles sensitive data regularly the best choice is to select a VDR with an ISO 27001 certification, which covers the entire platform’s operational procedures as well as infrastructure, systems and procedures. In addition, a GDPR-compliant VDR conforms to European standards for data protection, while an ITAR-compliant one follows US regulations for military and defense-related documents. Additionally, an HIPAA-compliant VDR adheres to national healthcare records keeping and transaction standards for electronic health records. This allows healthcare companies the possibility of sharing confidential information with other partners in a secure environment.
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