Secure Data Room Review

Virtual Data Rooms, or VDRs, are a special type of online file storage and collaboration platform specifically designed for the safe sharing of confidential business documents. They are commonly used in M&A, IPOs, due diligence, real estate asset lifecycle management, capital raising and other projects that require the secure storage, management and sharing of important business files with third-party external parties. The best VDRs have various features that limit the possibility of sensitive data being released to third parties.

A secure VDR must be inaccessible to unauthorised users, and should offer features like granular access rights and click trails to prevent accidental disclosure of private data. VDRs are vulnerable to human error and require the right education to ensure efficient and effective VDR usage.

If your VDR has security that is bank-grade, but is still susceptible to 71% of common attacks that involve human error, then it is not providing much protection. Most users have screen-grabbing software on their PCs, such as Snag-it or Paint. These applications can capture screenshots and expose confidential information to anyone who isn’t authorized. Therefore, it is imperative to determine if your VDR solution has a robust security feature to stop users sharing their login credentials. Most do not limit how many times the same user logs into and out of the VDR, meaning that anyone could access your files 30 times.

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