Many businesses across different industries use virtual data rooms to help safeguard their sensitive information. Virtual data rooms can protect documents using advanced security protocols, document encryption, and access control. Data room software can be used in any application that requires the secure storage of documents. It is often used for due diligence, mergers and acquisitions, fundraising, and legal transactions.
About Document Encryption
Document encryption involves converting data into a format that can only be accessed with a specific decryption key. It helps prevent unauthorized access by making the data unreadable if accessed without permission. Authorized users can gain access and will be able to see and read the document. This helps provide an additional layer of security to help protect confidential information.
The Role of Data Room Software in Encryption
If you want to start encrypting your documents to keep your sensitive information safe, data room software can help you. Here are a few security measures data room software can provide:
Advanced Encryption Protocols
Many virtual data rooms use industry-standard encryption protocols like AES (Advanced Encryption Standard) 256. This can help prevent access from the back end of your data room. AES 256 makes it difficult for unauthorized parties to decrypt your data. These protocols can help protect your documents from potential threats, including unauthorized access or data breaches.
Encryption at Rest and in Transit
For the best protection, it is best to have encryption measures in place for documents at rest and in transit. Encryption at rest helps protect documents that are on the server or in cloud storage. It protects them from hackers and other unauthorized viewers. Encryption in transit protects documents while they are traveling to other networks. This helps prevent interception as the document is being transferred. Using both provides end-to-end encryption, from storage to sharing.
Utilizing Encryption Keys
Some virtual data rooms utilize encryption keys to help keep documents safe. Encryption keys allow authorized users to access documents and make it more difficult for attackers to gain access to confidential information. Some data room providers also allow customer-managed keys, which provide high-level security and eliminate the need for hardware security modules (HSM), which can be difficult to deploy and maintain.
More Data Room Security Measures
Encryption is a powerful technology that can protect your sensitive files and data. Virtual data rooms have even more features that go hand-in-hand with encryption for maximum security and protection.
Compliance With Security Standards
Virtual data rooms that are compliant with security standards are independently verified. This means that third parties have tested them and determined that they meet strict security standards. Look for a virtual data room that is ISO 27001:2013 certified. Other certifications worth noting include SOC 1/2/3, ISO 90001 / 27001 / 27017 / 27018, PCI, DoD CC SRG IL2, FedRAMP Moderate, HITRUST, and HIPAA.
Granular Access Controls
Granular access controls allow virtual data room administrators to control who has access to their information. They can assign different permissions to various groups and users. They can also set certain limitations in place, such as not allowing certain users to download documents. These controls help maintain control over private information and limit access to those who genuinely need it.
Two-step Verification
Two-step verification helps protect information by requiring users to input a password and provide a message that was sent to their phone, email, or an authenticator app. This makes it harder for hackers to gain access to the room by requiring multiple steps before gaining access.
Secure Audit Trails
Audit trails record user activities within the data room. Activities that it tracks include document access, downloads, views, and edits. These records keep track of document interactions, facilitate compliance requirements, and can help detect suspicious activity. If there is a data breach, audit trails can help identify users that could have been involved and can help in recovery and protection.
Virtual Data Rooms Protect Information Using Encryption
If you have sensitive files that you want to protect, consider getting a virtual data room. Data room software can provide the best protection by encrypting your documents and offering other advanced security methods. Securing your documents can help protect your files from unauthorized users and may help you avoid legal problems in the future. Look for a virtual data room that provides all of these benefits for maximum protection.