Sensitive data can be stolen or compromised by weak passwords, physical security vulnerabilities, and unsecured networks. Secure data-sharing platforms, like virtual data rooms, protect you and your company from identity theft and data leaks that could cause legal repercussions. Here are some features of virtual data room software that can help you protect your information:
Access Controls
A data room administrator can implement a role-based control system to limit users’ access to data based on the individual’s responsibility in an organization. If you want to provide different levels of access to specific folders, some data rooms have a folder-level permission system. This allows you to state who can delete, edit, or view information within specific folders. Another control option is the time-based access control, where you limit the duration individuals can view files. Other forms of access control include dynamic watermarking and activity logging. These features enable companies to track who viewed or downloaded sensitive information and when.
Two-Factor Authentication
Once you input your password and username to access your content, the virtual data room software may require additional verification. The data room will send a code via SMS or email with a verification link to confirm you are a verified user. Some data room platforms use biometric verification like facial recognition or fingerprint scans. Using additional two-factor authentication, like security questions or passcodes, when accessing the data room from a new computer or mobile phone helps protect sensitive information from unwanted viewers.
Activity Auditing and Monitoring
A virtual data room software track of each user’s activities, including uploads, edits, downloads, and logins. Room administrators use this information to assess the people who viewed certain documents and what they did while viewing them. If the data room software notices unfamiliar patterns, such as an increased frequency of unauthorized document editing, it sends an alert to the administrator. You can customize the room’s settings to receive real-time alerts when an unauthorized user attempts to sign in or access restricted documents. The software also allows you to track the IP addresses of individuals who access your data.
Frequent Security Maintenance and Updates
Data room platforms have scheduled and frequent security upgrades to offer protection against emerging security threats. The systems update their software by adding new antivirus functionalities and correcting minor malfunctions. These upgrades also include vulnerability and penetration testing to pinpoint potential security weaknesses. Some virtual data room systems have continuous tracking capabilities to detect and stop breach attempts.
Document Expiration and Watermarking
Virtual data room software gives you the ability to place watermarks on your documents and set expiration dates for downloads. If someone shares or distributes your documents without your authorization, you can easily trace the actions back to the person who did it. The watermarks also prevent unauthorized document duplication. Document expiration dates allow you to reduce the time a document can be accessed, even after it has been downloaded.
Implement Virtual Data Room Software
Secure data room software creates a shield around your sensitive information and prevents data theft and unauthorized access. You can use these platforms to streamline your business’s projects and collaborations while keeping your information safe. Securing your data allows you to comply with various privacy laws and avoid legal trouble. Contact a data room provider today to learn more about using their software in your next deal.
