A virtual data room or VDR is a web-based solution particularly created for the storing and sharing of confidential data. VDRs provide specific sets of options like advanced permissions, tracking features, Q&A tool, as well as multiple-factor authentication and watermarking. Though virtual data rooms are historically utilized for financial transactions, IPOs and fundraising, their use cases are increasing. Any business involved with the secure and specialized management of its data can opt for VDRs. Today, data room providers are progressively building machine learning technology into their software system, thereby enlarging their supply to incorporate tools to use their data room platform for file-synchronisation, internal repository or secure communication with investors.
Case study with PwC Singapore
The use of virtual data rooms increases every year, and while North America remains the biggest user of the technology, Europe and Asia are rapidly catching up. The growth is driven mainly by a few key factors, which all fit comfortably under the heading of due diligence. Data room technology offers the ability to reach across borders. It speeds up processes by reducing time frames and frustrations of document access during high-level deals, and gives peace of mind to all parties involved.
Sharing documents online is second nature to most of us. We need to share documents to demonstrate the work we have done, to get comments and feedback, to enable us to collaborate with our colleagues, partners and consultants and sometimes to get our boss to sign, scan and send us back the document so that we can record another successful sale.
Whatever the purpose, I am sure that you want to know what is the best way of sharing your documents online. I will go through all the 7 options available to you:
In past posts, we have covered our perspective as a data room provider about the risks of social engineering. The term has become more familiar to all of us thanks to the increased recurrence of high profile breaches that are occurring in the corporate world as well as in government organizations. While a number of the breaches happen due to poor technology, many more happen because of the manipulation of people to give up confidential information. Here are some of the recent tricks and strategies used by social engineers and some ideas to protect yourself and your company against such attacks.
There are a number of Virtual Data Room providers in the world. Some are global with operations in multiple countries and clients in many more. Some are local; they only serve the country in which they have an office. The question is - can a global Virtual Data Room provider meet your local market needs just as well as a local Virtual Data Room provider who predominantly operates only in your region? Here are four factors to consider:
A Virtual Data Room provider is only as good as the team that runs the company behind the scenes. A leading company would not just provide a do-it-yourself product but also a service team to support every transaction. It is key to train the service team in all aspects related to virtual data room security. Here are some key aspects that are considered: