Data Room Software Safety Features
A virtual dataroom is a secure repository for files that can be exchanged with a variety of partners. This kind of collaboration is commonly used in due diligence for M&A deals and fundraising and partnerships. It’s also utilized to create regulatory proposals, internal policies, and procedures. These projects may contain sensitive confidential information of a private nature that is susceptible to hacking, if not shared and secured properly.
The top VDRs provide the security features that are industry standard. This ensures you are secure knowing that your sensitive documents used to conclude an agreement or transaction and keep them where you want them to be. These features are industry standard and include audit logs for the history of viewing documents and granular user permissions and a full set of encryption, and other tools to guard sensitive information from unauthorised access.
Redaction tools are another option you will find in the most secure data room. These tools let you efficiently and effectively block any sensitive information within the document. This can help to prevent leaks that are accidental in the event that an email has been accidentally sent to the wrong recipient or when a person inadvertently uses their personal information for business purposes.
Some of the best virtual data room providers offer features that reduce human error, for instance the “View As tool that allows you to determine exactly what a prospective viewer will see when they visit your virtual data room. This can be a useful safety feature when working with partners who aren’t familiar with your business process.