Secure Data Rooms – How to Securely Share Confidential Documents With Third Parties

Businesses utilize Secure Data Rooms to securely share confidential documents during transactions. These files contain private documents, IP, and copyrighted work that is not re-created without the approval of the company. This kind of information can be valuable to your company particularly in today’s frantic business environment where speed shouldn’t be sacrificed in order to ensure security. Using the right tools to share files securely can be a major factor when you negotiate deals with partners, investors or potential M&A targets.

It’s important to remember that not all virtual data rooms are made to be the same. Although the majority of them employ combination of security features that ensure only authorized users can access certain documents, you must also keep in mind that not all of them have the same degree of security. This is especially relevant when it comes to allowing users to view documents offline or print them directly from the data room.

Based on our experience that the majority of secure data rooms that offer this feature rely heavily on password protection in order to ensure that only a particular person is able to access the data. This isn’t an adequate enough level of protection because it doesn’t take into account the possibility of the user sharing their login credentials with others or enabling someone else access to the data. In addition, many systems that permit document downloads for offline viewing – especially PDFs – have no security measures at all, or provide only weak security (such as watermarks). Digify’s virtual data room solution does not rely on passwords or other weak authentication mechanisms to confirm that only authorized users are able to view and print documents from the platform. Instead, our system employs advanced data protection methods like encryption multi-factor authentication, multi-factor authentication, and security monitoring in real-time to ensure that no one is able to access the data.

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