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A virtual data room is where companies can save and share sensitive documents with a select number of third parties which reduces the risk that sensitive business data could be leaked to unauthorized individuals. Due diligence used to be performed in physical rooms. Nowadays, it’s done online in virtual data rooms.
The best VDRs are security-focused and have features to cut down on the cost of data breaches and illegal sharing. They include granular access control multi-factor authentication, session timeouts. They also include the ability to restrict location and secure spreadsheet viewers, as well watermarking and screen-blocking. All of these features work together to create a strong digital fortress which protects the information stored in the VDR and is shared with customers.
When choosing a secure cloud storage it is crucial to make sure that the solution is fit for the job. It shouldn’t be a matter of allowing authorized users to log in and upload your files to external platforms. Some “secure” systems claim to stop this, but the reality is that they do not – they simply make your files encrypted on the server prior to delivering them to your browser.
They depend on your browser to have an SSL certificate and being set to only accept certificates from trusted sources. It doesn’t mean your VDR is safe from hacking, but it does guarantee that hackers can only gain access to encrypted files, not to your unencrypted, temporary files.