Unique Lab September 29, 2024A secure data room is where sensitive documents can be stored and shared. These documents could include confidential financial reports, intellectual property trade secrets, as well as confidential business information. They could also contain personal information like credit card numbers, Social Security numbers and private medical records.
Many data rooms provide features that give users to save or mark files as favorites. This lets them look over large amounts of information quicker. This is a great feature for those who need to quickly look over information whether for due diligence or acquisitions and sales.
Some providers of data rooms claim that their software prevents authorized users sharing documents with non-authorized parties. It’s not as easy as it sounds. While data encryption at rest is crucial but there are plenty of other factors to consider.
For instance, some VDRs are able to decrypt your files on the server and then forward them to your browser as unprotected temporary files which could be compromised. Users can also forward links to your data room files even in the event that they’re encrypted.
To ensure that your data space project will be successful and avoid data breaches, invest in a virtual data room that is designed with the highest levels of security and comes with all the tools necessary to complete deals. Kiteworks offers a no-cost demo to show you how our platform can assist with your next project. Learn more about the capabilities of our software to streamline M&A due diligence corporate transactions, corporate transactions and capital raising.