Whether you’re working with intellectual property or you’re preparing for a significant merger, you must have the right tools and platforms to secure your brand’s confidential documents. You need a system that affords you the freedom to easily share documents, eBooks, and other digital assets while maintaining robust security. Otherwise, you risk compromising critical enterprise data.
That’s why virtual data rooms exist. Virtual data rooms, or VDRs, facilitate more effective document sharing and provide excellent encryption for downloads and data access. With the proper security protocols when using a data room, it’s much easier to mitigate data risk and protect your sensitive information. Here’s what you need to know.
1. Invest in DRM technology for your intellectual property.
Often, virtual data rooms require brands to share intellectual property and sensitive information. So naturally, concerning IP data, growing enterprises need ways to prevent piracy and unauthorized use. A DRM software can provide an extra layer of security that protects your sensitive information and helps give document and data freedom to the copyright holder.
DRM, or digital rights management, empowers creators and IP holders to offset unauthorized use, enable key delivery protocols, and prevent data misuse in the first place. Many subscription services depend on DRM solutions to protect their digital media, so it’s only sensible that growing brands would do the same within their data rooms. The right DRM solution is a necessity for copyright holders worldwide.
2. Set well-defined access permissions.
Any VDR solution should leverage one key feature: setting full access permissions that enable or limit users based on roles and access rights. For example, much like a DRM system acts as an access control system for IPs, a VDR’s access permissions allow or limit data decryption for specific users. This way, you can give stakeholders more significant access to your critical information than, say, an associate.
On the other hand, your remote support professional may have expanded access permissions to interact with the system as needed and test access capabilities. These access permissions are necessary for brands that require a virtual data room, whether they’re in the midst of an M&A transaction or they’re working on fundraising and capital acquisition. Often, access permission capabilities are available through a VDR provider at no additional fee.
3. Enable two-factor authentication.
One of the easiest ways to implement greater virtual data room security is to implement two-factor authentication. For any enterprise, two-factor authentication is a necessity for data security and access control. Whether your workers use Android devices, a desktop Firefox browser, or Apple devices to access data, two-factor authentication can send a notification or access code to their chosen instrument to verify that it’s an authorized login. That way, if any of your employees receive codes when they’re not actively attempting to access the system, you can spot any potential security gaps and act on them.
On top of this, you can examine user activity and access logs to determine when individuals are interacting with sensitive data and for how long. If you’re noticing unusual activity on any of your logs, you can audit your existing protocols and procedures to help spot any data bottlenecks or process hiccups. Two-factor authentication and access logs are necessary components of any effective virtual data room solution.
Virtual data room security is paramount to brand success.
Whether you’re an established enterprise or a growing brand, you must have effective VDR security protocols in place. These mitigate data risk, which protects your investors, stakeholders, and users. In addition, with the correct security protocols and virtual data room solutions in place, it’s much easier for businesses worldwide to better control and maintain their critical data.