The Data Room: a Valuable Resource to Disclose Corporate Data Privately

Traditional methods of corporate data exchange often reach their limits today. So be it about the lack of security and control options over access but also concerning the data size. This article will explain how to organize corporate data privately with the help of data room software. 

Data room software for secure work with corporate data 

The secure exchange of corporate data – such as contracts, business figures, personnel and project documents, design drawings, and much more – even across company boundaries, plays an increasingly important role in digitizing business processes. Close networking with suppliers, consultants and service providers, sales partners, and customers is an important prerequisite for future business success. Secure and, at the same time, quick and easy access to data and documents, independent of location and time, plays a central role here. At the same time, our working world is becoming increasingly mobile and flexible. In addition to working in project teams at different locations, the importance of working from home continues to increase. Even after the end of the COVID-19 pandemic, this trend will continue. Virtual data rooms represent a highly secure and easy-to-use solution for corporate data exchange across locations and companies.

The data room software implements a unified, centralized repository of company documents in the form of electronic scanned images, which can significantly reduce the circulation of paper documents and ensure reliable long-term storage and efficient use of the company’s documentary archive. Here you can read more about virtual data room.

One of the most common functions of the software is to work with the document route. It is necessary for organizations that have a regulation on office work, which regulates professions with various types of documents. For example, an application from a client comes to the office, then to the head of the customer service department, and he, in turn, appoints an employee to complete this task. After completing the work, the employee draws a report and sends the document back to the office. At each stage, additional tasks are possible for the person working with the document. 

How to reach maximum security with data room software?

With the data room platform, companies can exchange and make available their sensitive data and extensive project documents online with maximum security and efficiency. Moreover, with adjustable access rights, they control who receives their data and how they may be used: whether only for viewing, downloading, or editing.

The data room service offers dozens of file and document security features:

  • SSL encryption, which ensures the security of data exchanged;
  • multi-factor user authentication;
  • the ability to configure login settings: by digital fingerprint, biometric data, PIN code, etc.;
  • it is possible to restrict access to documents;
  • control of changes in files and access to the history of changes;
  • Ability to lock or erase the data from a stolen or lost device.

So, the software is characterized by configurable access rights. Administrators need to be able to set individual rights – at the user and document level. It includes policies for reading, writing, deleting and printing, and forwarding documents. In addition, the contents of the data room should be protected against unauthorized access. It is achieved with two-factor authentication and end-to-end encryption when sending and on all end devices. Ideally, the documents remain on the server at all times and are only displayed as watermarked graphics in the browser.