When looking at virtual data room security, many companies aren’t sure what elements they should even be examining. Trusting a provider’s assurances that they’re secure might be a big mistake. In order to make the best decision before committing to any specific virtual data room provider, here are the five primary elements to look for:
1) Infrastructure Security
The servers are the foundation of your virtual data room security, so it’s vital that every possible measure be taken to ensure absolute data integrity. A highly secure data centre is a must, providing alternate power sources, multiple connections and real-time replication for daily operations. This flexibility should be augmented by virus scanning, firewall protection and a robust intrusion detection and emergency response system. Full-time monitoring through experienced security personnel and/or video surveillance is also ideal.
2) Document Protection
Once data is uploaded, what protections are offered? The highest possible commercial-level encryption should be made available to your company. Additionally, document security such as user access controls or deterrents, like mandatory watermarks upon document printing, should be standard. Can the document protection be extended to lock down of documents even after distribution, allowing for permissions to be revoked even outside the protection of the corporate firewall?
3) Personnel Security
The most overlooked component of any virtual data room security is the employees themselves. Whether deliberately malicious or through unintentional error, employee actions can compromise their employer’s data. Scrupulous background screening, limited access control and a security system that accounts for human error and action as well as technological security measures all work to limit the human factor in security vulnerabilities.
4) Data Lifecycle Management
From collection of sensitive data to its safe destruction, virtual data room security must be faultless throughout the data lifecycle. A data classification system that differentiates confidential information from public records is a key element in maintaining documents and data securely. Audit logs that are actively monitored and restricting access to limit vulnerability both improve security. All documentation must be encrypted whether in deep storage or in transit.
5) Backup and Recovery
Uploaded data should be encrypted and backed up to an offsite disaster recovery data centre. Like document access, operator controls should be restricted in order to limit vulnerability. Similarly, backup software itself that stores config files, passwords and other sensitive data should itself be user-restricted.
Together, these five elements can tell companies quite a bit about the standards used by any virtual data room hosting providers. Although cloud hosting and data storage services may seem like the ultimate in convenience, they’re rendered worthless without the appropriate levels of security.
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