Online Data Room and SSL

Online data room and SSL

A virtual data room (VDR) for the purpose of protecting confidential documents in a secure environment, is superior to free file sharing services like Dropbox or Google Drive. These services are suitable for sharing documents on a daily basis, but they aren’t robust enough to handle large-scale business events such as IPOs, M&A due diligence tenders, capital raisings, and tenders.

A VDR is an online solution that securely stores, manages, and shares sensitive information with multiple users through the internet via web-based interface. This makes it ideal for M&A, venture capital, fundraising, IP protection, as also management of projects and IP protection.

Many of the features available in file-sharing programs are also available in a VDR. This includes two-factor authentication (2FA) and Single Sign-On (SSO) and the ability to grant users granular access rights. VDRs offer additional security options such as IP restriction which restricts access to specific devices, continuous backups of data and 99.9% uptime.

For businesses handling sensitive information regularly, the best option is to select an VDR that has an ISO 27001 certification, which covers the entire platform’s operational procedures as well as the infrastructure and systems. A GDPR-compliant VDR also meets European standards for protecting data, while an ITAR certified VDR follows US regulations that govern documents for military and defense. Additionally, an HIPAA-compliant VDR adheres to national healthcare transaction and record keeping standards for electronic health records. This allows healthcare companies the opportunity to share confidential information with other partners in a secure setting.

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