How Virtual Data Room Solutions Are Used For Everyday Data Protection

The flexibility of the Data Room and near-instant scalability can dramatically reduce the time it takes to launch new systems and services that require new approaches to security. Here is more about Data Room software for daily data protection.

Why do companies choose Virtual Data Room for daily data protection?

It is no secret that virtual technologies are now on the wave of popularity: cost-effectiveness, ease of deployment, multi-user architecture – all this contributes to the rapid spread of Data Rooms and their capture of most of the IT market. The cost-effectiveness of software solutions makes them especially popular for storing sensitive business information.

The solution offered in the cloud computing model offers an online Data Room for cross-location data exchange and the secure provision of highly confidential documents, such as business figures, technical drawings, contract documents, etc. The Virtual Data Room solutions works with any conventional Internet browser without having to install the software. Both the upload and download as well as the storage of files are encrypted. The availability of the service and the security of the data are of decisive importance for this service.

Online Data Room security measures

This collaborative platform enables the secure and efficient exchange of documents and information, for example, as part of due diligence. All parties involved, such as issuers, consultants, auditors, and process banks, can securely access the transaction-relevant data at any time during all phases of the listing process.

Data protection in the software is provided by the following security measures:

  • Authentication

Access to the Data Room is only possible with a valid combination of user name and password. A user’s password is set by the user himself when he logs in for the first time and is therefore only known to the user himself. The software checks the quality of the password and does not allow insecure passwords. Your company’s requirements for the quality of the passwords can also be mapped using password guidelines to be set by the Data Room administrator.

  • 2-factor authentication

With Data Room, customers have an additional security option for logging into the software with 2-factor authentication. The 2-factor authentication known from online banking offers additional protection against unauthorized or accidental disclosure of a user’s access data. In addition to a user name and password, logging into the Data Room also requires entering a security code, which is sent to the user’s mobile phone via SMS.

  • Rights management

A flexible authorization system with reading and writing rights enables the precise definition and monitoring of access rights to the contents of the Data Room for each participant. Only users who have been invited by an administrator have access to the contents. The software is designed in such a way that a user can only reliably access the documents and folders for which he has the appropriate authorization assigned by the administrator. All other documents and contents of the Data Room are invisible to him and guaranteed to be inaccessible. Particularly confidential documents can be additionally protected by preventing them from being downloaded or printed out.

  • Backup

Once an hour, the entire database of Data Rooms is synchronized from the live data center to the backup data center and recorded in a snapshot. This makes it possible to restore the application database for an hour in the last 30 days. All backups older than 30 days are automatically deleted. Once a day, a complete backup is restored on a separate test system in the backup data center and it is tested whether the backup can be used.