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:
Continuous Discussions About Security Security is part of the ethos of a serious Virtual Data Room provider. It is at the core of its business. In order to carry on a continuous discussion about security the company will have to stay up to date with the happenings of the world wide web. That means tracking security news, maintaining security processes, upgrading these processes to make improvements, implementing the best practices and having discussions on security ever so often.
Background Check entails going into the past of a team member to ensure that he or she is reliable. Background checks should be conducted on every new employee by talking to their past employees, employers, their landlords and the educational institutes that they graduated from.
Signing of NDA with the company Having a Non-Disclosure Agreement between the company and the employee is essential. This document protects the company in the event of any breach in confidentiality. It also makes an employee aware of the responsibilities he has undertaken when working with confidential information on a Virtual Data Room.
Probation Period Often a period of 6 months should be used by a company to evaluate an employee. This probation period allows an employee to get accustomed to the work environment, his role and the challenges on the position. It also allows management to keep a close eye on the prospect, challenging him to see whether he is able to respond well under pressure. If the probation period is cleared with confidence then the shift to working full time would be the natural next step.
Working On Live Deals With QC Of Senior After crossing the probation period, a team member will be introduced on live deals. Sometimes multiple new virtual data rooms will be launched simultaneously and the pressure will be high on the service team to deliver on time without any delays. This is the stage at which mistakes can be made. In order to ensure a near zero error rate, a process of quality check (QC) is mandatory. This mandatory process necessitates every executed request to be double checked before moving on to the next step.
Becoming Independent Deal coordinators on any deal should have the capability to work independently without the constant supervision of a senior member of the team. This will come with experience and is a natural next progression in the road to becoming an expert.
Always asking “what can go wrong” To plan is to look at scenarios and the worst-case scenario is a good starting point for this process. Building in contingencies for such scenarios differentiates a leader in the Virtual Data Room industry from the rest! The service team should be taught how to plan for these worst case scenarios and execute contingencies if and when they do occur.
Are Aware Of Social Engineering Social Engineering is psychological manipulation with the incentive to gather confidential information. Making the service team aware of such tactics from outsiders will allow them to be mindful of such threats. Those who are unaware usually fall victim to such tactics very easily.
Semi-Annual Review of Performance You get what you reward for! Top performance must be rewarded otherwise a motivated team member can very quickly become demotivated by the lack of recognition accorded to him. A semi-annual review often works best in analyzing the areas that an employee can improve and where he has already excelled.
It is not enough to have a service team. It is just as important to train the team, especially since security is the core of the business that they are working for. Virtual Data Room providers should continuously be talking about security with their staff, ensuring that they are hiring trustworthy employees to add to their team strength and rewarding their work semi annually to keep them motivated and happy.
