A secure data room is a physical or virtual location to keep, manage, and share confidential documents during high-stakes business transactions. They are usually employed for M&As IPOs and fundraising rounds, as well as other high-value transactions to ensure that sensitive information can only be accessed by authorized individuals. A data room may be managed by a single person or several people could be granted access depending on the organization’s structure.
Security and encryption
It is essential to select an encryption-secure dataroom protocols in http://www.vdrlabs.info/3-key-components-of-an-investment-pitch-deck-that-every-entrepreneur-should-have order to protect against unauthorized access. Find a solution that requires two-factor authentication, and also encrypts the data in transit. This will secure your data even in the event that a server is compromised.
Collaboration Tools
You should also consider the ability to work in real-time with colleagues using the data room’s tools for collaboration. Then, you can track the changes that were made and when, which can help to ensure that the project is on track.
Reporting Activity
You should be able to monitor the usage of your room with analytics features. These will show you who accessed which files when, and for how long. Likewise you should be able to download customized reports for each file. You should also be able to put dynamic watermarks to your files that can stop sharing and duplication without proper crediting. In addition, you must be able to install Information Rights Management (IRM) security on downloaded files for greater control over the use of these files within your local network.