0936211399 HOTLINE A secure dataroom is a cloud-based solution that’s designed to store and share confidential business information. It provides controlled access. A modern version of a physical space where hard copies would be reviewed during sales or buying negotiations, today’s virtual data rooms offer encryption technology and advanced security features as well.
Secure virtual datarooms are designed following the same premise as personal storage and sharing services like Dropbox or Google Drive but with a more secure level of protection. Documents and other data are encrypted when they transfer to cloud, while being shared in a virtual data room and when they are stored on the server. This makes them much more secure than the basic file sharing and storage tools that depend on passwords or plug-ins to restrict access to specific devices and locations.
In addition to the basic accessibility (on any device and no matter where you are) Data rooms will typically include collaboration capabilities, e.g. chat and group messaging, to increase the effectiveness of due diligence processes. They also tend to have a complete audit trail of the activities of all users, so that breaches can be traced and traced back to their source.
Most data rooms are designed to support the due diligence process of a merger or acquisition deal, with both sides able to access the information and perform a thorough review. They are also becoming popular for other types of M&A activities, such as divestitures, restructuring, and fundraising. Some are used to share and review documents within teams, with the added benefit of providing a more robust encryption security protection than traditional email.
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