Archive for the ‘data rooms’ Category

Secure Data Rooms Cases to Presume

Thursday, April 28th, 2016

The importance of information technology tools in the business world must not be undervalued. Various research works state that using digital technologies does not only increase the speed and efficiency of major business transactions, but is the only condition of remaining competitive in the market. One of the most advantageous platforms for organizational activity is a VDR. See how it can help your business.

Online data room is the novelty which has gained the incredible demand within the last decade. Being initially introduced for processing deals, it quickly became frequently applied in many different industries with the unchanged success: clinical trials, investments, legal practice, real estate, biotech licensing, etc. The key advantages of the technology are its convenience and security: parties have a possibility to work with the VDR anytime, from any location, and without worrying having no worries about their data safety.

When choosing the virtual solution for supporting business transactions, it is much recommended to check on the main characteristics and options it possesses in order to be sure this VDR can certainly benefit your organization – more about data room security. The most required features to require from a good service are the following:

Information encryption

Different vendors offer different security instruments for ensuring the data protection, but data encryption is among the most common ones. Encryption involves encoding the information stored in the repository in order to make the symbols unrecognizable for unauthorized users in the repository. It is the primary anti-hack step which is a required element for any data room. The variation might only be in the encryption standard used: the latest approved standard is 256-bit, but 128-bit is considered also very secure.

Dynamic watermarking

While data encryption is a protection from improper data accessing, digital watermarks is a protection from illegal distribution. Digital watermarks enclosed to the documents keep the details about the document`s owners so the rights is easily protected. The watermarks can be dynamic and, in this case, they can store the data about all the accesses that have taken place.

Complex verification process

The most trusted way to save the online repository from hackers is to restrict their possibility of even viewing the files. For this purpose, many trusted VDR providers offer complex authentication that supposes 2 components: typing down a common password and using the generated code sent straightly to his mobile.

Tracking and audit log

This option does not only help to check what happens in the repository, but also allows to get a feedback regarding the sides` engagement in the transaction. Tracking tools used in a good virtual repository mostly let data room owners to track the activities in the virtual space and build conclusions about the most concerned parties. The received information is especially in-demand for dealmaking when the result of the transaction may depend on the properly considered final negotiation.

Permissions and restrictions

When there is a virtual data room, there exist no possibility for transaction members to view the inappropriate files. The system itself takes control of the operations and makes definite documents inaccessible for certain system users. The necessary thing that must be made in advance is defining the permissions and restrictions for individual users or groups, and the instructions will be rigorously followed.

Questions and Answers section

This section has been especially designed for arranging web-based communication between partners. The chosen way of communication does not only allow to reduce time, but also adds to the security of the discussed matters. To increase users` comfort, Q&A section can be combined with the e-mail notification system and in-document linking that gives a possibility to link the certain files to the Q&A space.

Customized interface

Definite VDRs have basic interface that cannot be corrected, the other allow slight or great chance of customization. In addition to settings variations made by the users, each organization which possesses a virtual data room can introduce its own interface. In order to make the VDR easily recognizable for existing and future clients, some companies introduce their logo and main company colors.

These seven features are definitely important for files safety and efficient working. While the first three are used to arrange data security, other four relate to the way of managing the information to make the working process better controlled and beneficial.

A VDR is a tool that can perform a significant change in information storing and distribution, managind transactions, and interacting with partnering organizations. If you observe the necessity for improving the quickness and effectiveness of your business procedures, begin looking for a good online data room right now and gain the benefits tomorrow.