Data Room Security – How to Secure Your Documents in a Virtual Data Room
Security of the data room is a top issue for both individuals and companies alike. Since sensitive information could be exposed if wrong people gain access on it. For companies, this information could include confidential financial reports or trade secrets. Individuals can also use PII/PHI, such as credit card numbers and a social security number. There are ways to safeguard your information when you use a data room.
A robust virtual dataroom has numerous security features that are industry standard to ensure documents remain in the location you’d like them to be and they don’t get lost or stolen. This includes banks with 256 bits of security, multi-factor authentication and audit logs. Security personnel with training also provide the human aspect to your data center’s protocol and offer a quick response to threats.
When you create a new VDR the first thing you must do is set user permissions. This usually involves creating groups and assigning access permissions. You can also hide members from one another and mask original upload dates to restrict the narrative in certain circumstances.
It is essential to be clear in your permission settings. Overly restrictive permissions can impede collaboration, while titles that are unclear can create confusion and could lead to loss of important files. Some VDRs like Firmex Virtual Data Room, even have an “View As” tool to allow administrators to know what each user will be able to see when they click an image. This is an excellent method to avoid disclosures that are not authorized and to reduce assumptions.