Security in Data Rooms and Its Importance

Business deals involve a great deal of paperwork. This paperwork often needs to be shared and accessible to multiple parties — secure storage spaces help to facilitate this. 

Under no circumstances should highly sensitive business documentation be allowed to leak to unauthorized personnel. In addition, a data breach can cause damage to a business’s or individual’s image. Therefore, checking your storage space’s security features is a good move to ensure greater business security.

Today we’ll explore the most important data protection features of virtual data rooms.

Secure data room features

To safeguard your company’s documents, a secure virtual data room should be equipped with the following features:

  • Compliance with the latest security regulations. Checking whether the virtual data room has the same security certifications as the most popular software solutions on the market is a good place to start when looking for additional file safety. 
  • Bank-grade data encryption. Utilizing 256-bit encryption algorithms is another way of ensuring that the files in your virtual data room stay secure. 
  • Tools that enable the user to increase data security. Through a special toolbox of permission settings and reports, you can take control of your company’s document security. In other words, you too can protect vulnerable files by managing secure documents.

Secure virtual data room tools

Each virtual data room should offer its users a set of tools that can help protect files from within a secure environment. Those include:

  • Permission settings. You should be able to give and revoke access to sensitive files stored in the virtual data room at any point. 
  • Watermarking. The virtual data room environment keeps documents safe by watermarking them to help pinpoint a data breach. Document and file histories can be easily traced back to the account of the person who might have leaked them. 
  • Reports. A virtual data room should provide you with access reports to timestamped files. This helps with governance over the files and gives you a rough estimate of what kind of work has been done with the files. 

With the features and tools listed, finding a virtual data room with good security shouldn’t be a problem. Here are our tips for finding a solution that will fit your needs. 

Tips for choosing a secure data room

There are a couple of factors you should take into account while choosing a secure data room solution. The aforementioned features and tools are important, but the choice should be made based on the following factors.

1. Compare virtual data room pricing

See what kinds of pricing plans they offer, and see if all of the tools and features are available with the software solution. Look at their plans, and compare them with other providers.

2. Read reviews

Reading client testimonials is the best way of seeing if the solution is actually helpful. Hidden costs, lack of features, or even security breaches can be avoided if, by reading through honest user experiences, you see if the software would be a good fit.

3. Contact the provider directly

Talking directly to the provider might give you an idea of how they treat their customers. If they are responsive and willing to help, that bodes well for future cooperation.

4. Take them up on their free trial

Almost every virtual data room provider has some sort of free trial. Test it to see if their solution is as secure as they say it is — use the security-related tools to verify its effectiveness.

Virtual data rooms were created with security in mind, but it doesn’t hurt to check if they fulfill their promise. 

Through our list of features, tools, and tips on how to find a service provider that fits your security needs, you should be able to make a sound decision. See what is available on the market, and go with the provider that you find the most appealing to your individual business needs.