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Balance Security Needs and Usability When Assessing a Virtual Data Room

Posted on by Confiex Team

Last updated on June 26th, 2023 at 11:53 am

INTRODUCTION

In modern business every organization must respond effectively to the threat of data breaches and ransomware attacks, reaffirming the need for companies to take a proactive and balanced approach to data security and privacy. Security is protecting enterprise networks, data, digital assets and infrastructure from unauthorized access while maintaining availability and integrity. Finding a balance starts with identifying the right solutions.

A high degree of security is promised by all virtual room data providers, but not of them are capable of fulfilling the promises completely, some fall short on their promises.

Ideally a VDR should provide much more security than a physical deal room, because clients expect them to provide state-of-the-art security with ease of use so that there is no compromise in securing your vital information.

The Security that your VDR Needs

Virtual Data Rooms are normally used for business transactions wherein a large volume of sensitive data is organized, stored, tracked and shared to certain authorized individuals only. Certain data security are standard in all software as a service (SaaS) systems. In a VDR these features should form the basic foundations of the systems additional security measures.

Your VDR should offer a robust data encryption system with keys managed and stored in a secure key management system.

Your VDR should also have an in-built data loss prevention (DLP) mechanism that help protect your data from loss, misuse or unauthorized access. The DLP tools normally come with two features – those that detect imminent threats to your data’s security and those that address these threats. While searching for DLP tools you should look at whether these tools are compatible with systems that need to communicate to your VDR, what are the types of threats these tools address best and what are the regulations you need to comply with. Some of these mechanisms also permit you to monitor how this data is accessed or altered and by whom. This provides additional transparency and oversight.

Compare VDR Providers Security Offerings to Choose What Suits Your Requirements Best

The aim of all VDR security software options is to protect sensitive business information. But it is up to you to compare, weigh the pros and cons of each software and choose the one that suits you the best.

Documentation and Alterations

A VDR with high usability will allow administrators to not only control who views which documents, but also to control which portions of each document are available to each user or class of users.

Allows Transparency

A usable VDR also balances security with transparency through the use of tools like role-based access control (RBAC). This allows VDR administrators to set permissions for access to only specific groups according to each group’s assigned tasks.

Evaluate whether the software is in sync with your company’s cybersecurity system

Most companies prefer not to leave cybersecurity measures entirely in the hands of third-party software vendors, even when the software offered is a more cutting-edge security technology. It’s best you have your company’s own data protection measures and then choose a VDR vendor that offers the additional protections to your own systems security requirements.

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Confiex Team

The Confiex team specializes in providing premium virtual data room solutions tailored for businesses. With their vast experience in working with document sharing platforms, they have been actively supporting the Virtual Data Room community since 2015 by offering valuable information to users free of charge.

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About Confiex Data Room

Confiex Data Room is a trusted provider of premium virtual data rooms with over 5 years of on-ground experience and more than 11 years of industry experience. Headquartered in the financial capital of India, we have a strong partner network in the US and the UAE. Our global customer base spans across 100 countries, and we have successfully facilitated over 900 M&A deals, 100 IPO deals, and 90 NCLT deals. We are committed to providing users with valuable information on document security and Virtual Data Room (VDR) solutions. Discover more about Confiex Data Room.

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