Traditionally companies have relied on email to share InfoSec documents with potential buyers but this approach puts the information at risk, as it exposes it to compromised email inboxes as well as phishing attacks. Data rooms are a better choice as they allow businesses to securely and quickly share documents without losing control of their data.
A virtual data room is a secure cloud-based service that lets you store, share, and access private documents with the highest levels of protection. As opposed to personal file sharing and storage tools which are not secure, VDRs are more secure. VDR provides a lot more security features, such as advanced encryption and auditing capabilities, dynamic watermarking, and much more.
A variety of features are designed to help make due diligence more efficient and effective for all parties involved. A Q&A module, for example can help you create an organized and structured environment that makes it easier to answer due diligence-related questions and responses. It is possible to save time by making favorites, and then navigating to frequently used folders and documents.
A secure messaging tool is an important feature that lets users communicate within the data room. This helps them avoid having multiple applications open and increases privacy security. Additionally, two-factor authentication can aid in keeping information secure by requiring additional factual information or codes to sign into the VDR. You can also check which IP, device, and location the user is logging in from, which reduces the risk of misuses or leaks.