Data Room Software Safety Features
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A virtual data room is a secure repository that allows the exchange of files with multiple partners or stakeholders. This kind of collaboration is commonplace for due diligence in M&A deals or partnership agreements, fundraising and fundraising, regulatory proposals, internal policies and procedures, as well as other projects. These projects can contain sensitive confidential information of a private nature that is susceptible to hacking if not adequately protected and shared.
The best VDRs offer an array of security features that meet industry standards. This will give you peace of mind knowing that the sensitive documents used to close transactions or deal, will remain where you would like them to be. These standard features include audit logs, document view history, the ability to grant permissions to users in granular ways as well as a full suite of encryption and other tools to protect sensitive information from unauthorised access.
Redaction tools are another option that you can find in the top data rooms. These tools let you efficiently and effectively block out any instance sensitive information from a file. This can prevent accidental leaks that occur when an email is accidentally sent to the wrong recipient or if someone misuses their personal information to conduct business.
Some of the best virtual data room providers provide features to decrease errors made by humans, such as a “View As tool that allows you to know exactly what a potential viewer will be seeing when they enter your virtual data room. This is a great security feature when working with partners who are not familiar with your business processes.
