Traditionally, companies have relied on email to share InfoSec documents with potential buyers but this approach puts the information at risk of being exposed to compromised inboxes and phishing attack. Data rooms are a better option because they permit companies to securely and quickly share documents without losing control of the information they share.
A virtual data room is a secure cloud-based service that allows you to store and share private documents with the highest levels of protection. As opposed to personal file sharing and storage tools such as Dropbox, the VDR provides more security protections, including advanced encryption and auditing capabilities, dynamic watermarking and much more.
Additionally, many features are designed to help make the process of due diligence more efficient and beneficial for all parties involved. A Q&A module, for instance, can help you create a well-organized and logical environment that helps with due diligence inquiries and responses. You can save time by creating favorites and then navigate to frequently used folders and documents.
A secure messaging tool is an important feature that lets users communicate within the data room. This helps them avoid having multiple apps open and improves privacy security. Two-factor authentication is a method of requiring additional information or codes to sign into the VDR can also assist in keeping information secure. You can also verify the IP address or device, as well as the location of the person logging in, reducing the chance of virtual data room transactions misuse or leaks.