Online data room and SSL

A virtual data room (VDR) is the best option for the purpose of protecting confidential documents in a safe environment is better than free file sharing services like Dropbox or Google Drive. These services are ideal for sharing documents regularly however, they aren’t adequate enough to handle large business events such as IPOs, M&A Due Diligence tenders, capital raising.

A VDR is a cloud service that secures, stores and manages confidential data with multiple users over the internet using a browser-based interface. This makes it ideal for use in M&A deals, venture capital and fundraising as well as IP protection and managing projects.

Many of the features found in file-sharing applications are also available in a VDR. They include two-factor authentication (2FA), Single Sign-On (SSO) and granular permissions for users. VDRs also offer additional security features like IP restriction which prevents access to specific devices, continuous data backups and 99.9% uptime.

Businesses that handle sensitive information regularly should opt for a VDR that has ISO 27001 certification. This covers the entire platform’s operational procedures, processes and infrastructure. A GDPR-compliant VDR also meets European standards for protection of data and data security, while an ITAR certified VDR is in compliance with US regulations governing documents for defense and military use. A HIPAA compliant VDR adheres with national healthcare record-keeping and transaction standards for electronic records. This permits healthcare organizations to share patient information that is confidential with external partners in a secure environment.