A secure data room is a place where sensitive documents can be saved and shared. These documents may include confidential financial reports including intellectual property trade secrets, as well as confidential business information. They may also contain personal information like credit card numbers Social Security numbers, credit card numbers, and private medical records.
Many data rooms have options that allow users to mark files and folders as favorites or bookmark them, which speed up the process of looking through large volumes of documents. This is a wonderful feature for users who need to quickly review data in order to perform due diligence or for acquisitions and sales.
Some data room providers claim their system stops authorized users from sharing documents with non-authorized third parties. However, it’s not so simple. While the encryption of data during transit is crucial, it’s not the only aspect to think about.
Certain VDRs, for example, will decrypt your files on the server before transferring them to your browser unprotected temporary file, which could be hackable. Additionally, it is possible that users can forward links to any of your data room documents even if they are encrypted.
To ensure that your data space project is successful and avoid information breaches, you should invest in a data room designed with the highest levels of security and has all the tools required to conclude deals. Book a demo of Kiteworks to learn more about how our platform can help with your next data room project. Learn more about how our software can help you streamline M&A due diligence, corporate transactions, and capital raising.
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