Online data room and SSL
A virtual data room (VDR), in the sense of protecting confidential documents in virtual data room pricing a secure environment is better than free file-sharing services such as Dropbox or Google Drive. These services are good for daily document sharing but are not robust enough to handle major business events like IPOs, M&A due diligence tenders, capital raising and capital raise.
A VDR is a cloud service that secures, stores and shares confidential data with multiple users over the internet through a browser-based interface. This makes it ideal for use in M&A deals in fundraising, venture capital, and M&A as in IP protection and project management.
Many of the same features that are available in file-sharing services are also available on VDRs, including two-factor authentication (2FA) SSO, two-factor authentication (2FA), and granular user permissions. However, VDRs have additional security measures, such as IP restriction (blocking access for specific devices) as well as continuous backup of data and 99.9 percent uptime, which means that documents are always available for review.
Companies that handle sensitive data regularly should opt for a VDR that is certified with ISO 27001 certification. This covers all the platforms’ operations, procedures, and infrastructure. In addition, a GDPR-compliant VDR conforms to European standards for data protection as well as an ITAR-compliant VDR follows US regulations for military and defense-related documents. A HIPAA compliant VDR conforms to national healthcare transaction and record-keeping standards for electronic records. This provides healthcare providers with the ability to share confidential data with external partners in a secure and secure environment.