There are several file sharing methods, but not all offer intensive data protection. In November of 2013, a data breach cost Target $148 million. Recently, 1,000 retailers, including brands like Home Depot, have reported similar breaches.
In a fast-paced, competitive world, having quick access to files shared among key figures in the organization can make or break a business opportunity. But data breaches that compromise otherwise private information hurt both customers and companies involved.
Evidently, investing in the right technology that makes file sharing safer makes good business sense. In the recent years, the use of Virtual Data Rooms as a Secure File sharing medium has evolved rapidly. Much of this shift has been accelerated by the positive experiences the users have had with the convenience, simplicity, Security and functionality of the platform and their satisfaction and trust in the level of service.
The Traditional Email
Email is like your old, trusted buddy. You’ve had it for decades and you know how to work with it. With email by your side, why should you require another method of file sharing?
Emails have attachment file size limitations. They also can’t guarantee confidentiality. Despite labeling messages confidential, there’s no telling what the recipient would do. Recipients can (even unintentionally) forward the email to unauthorized individuals as easily as you sent the message. People can also print out email.
If you want secure file sharing without restrictions on data load, and a method secure enough to send confidential information and advanced enough to give you control of security even after sending, email simply doesn’t cut it.
Consumer Grade Solution
Several consumer grade solutions, like Dropbox and Box, are available. While ideal compared to emails when dealing with big chunks of information, just like with emails, these are preferable for personal use only. These solutions are also prone to data breaches; even Dropbox suffered from downtime and information leaks in 2012 and 2014.
If not email nor consumer grade solutions, what is the right technology to make file sharing safer for your business?
A business grade solution like a Virtual Data Room guarantees secure file sharing and gives the option to limit what the recipient can do with the file. A Virtual Data Room allows 256 bit encryption of your files and lets you set rules on the files you share. For instance, you can set a rule for a particular file to be read-only and for another to be viewable for only 10 days after download.
Cloud Servicing
It is likely you have a repository of files saved on internal servers. But you can only keep so many files before your internal servers start to run slower. Buying a new server is expensive. With your business growing and your files multiplying, you need more room to keep your documents and that’s where cloud servicing solutions like a Virtual Data Room comes in handy.
Security is a major concern; when choosing cloud service providers, check security and compliance features. Also look into expertise in handling business data and storage design.
Collaboration
Beyond extra space and security, a Virtual Data Room offers document collaboration. You commonly share files when several people work on a single document. It becomes challenging to track changes and secure a finalized version. If you email an excel file to five people, you’ll get five versions back after each has done his work. You will then have to collate changes, which is inconvenient and inefficient. On the other hand, document collaboration via cloud servicing allows multiple users to work on a single document at once, providing streamlined convenience. Document collaboration usually offers features that will let you manage who can access a file, dictate what users can do, identify users currently working on your document, and save all changes users make.
A World of Smartphones
Applications allowing file sharing are easily accessible through smartphones. A smartphone lets you work anywhere, anytime, given the right apps. A number of cloud storage providers offer smartphone solutions, but when comparing options, consider not just price points and ease of use, but also security. Numerous private celebrity photos recently circulated online after an apparent hacking of iCloud accounts. Your company cannot afford this sort of massive data breach.
Fortunately, virtual data rooms have adapted to the mobile revolution, allowing secure file sharing on the go.
Email and other similar consumer grade solutions aren’t as robust as options like a Virtual Data Room when it comes to business needs. What you should be after is security, stability, and business sense .
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