A secure data room for business is a cloud service specifically designed for the secure sharing of confidential documents and files in the business. They are used to aid in the due diligence process of the negotiation process and offer an array of features, such as advanced permissions Q&A tool bookmarks and notes with watermarking and multi-factor authentication to manage access and make sure that only authorized individuals to view the information can have access to it. They are accessible from any location in the world using any device that is connected to the internet. This makes them particularly useful for teams who work remotely, either at home or in the office.
Some “secure datarooms” make a huge fuss about the security of their systems using phrases such as ‘the most secure virtual room’ or a ‘highly secure dataroom’. But in reality these systems aren’t more secure than other tools such as Dropbox or Google Drive that employ encryption to protect the data at rest but don’t delete temporary files once they’ve fulfilled their purpose. It’s like a company that makes food focussing on the health benefits of their cereal bar is since it’s low in fat but not bothering to mention that it also contains 80% sugar or a housing developer claiming to have a fire certificate for their timber cladding when the building is actually only this link 12 feet from the closest river.
Firmex VDRs have been praised by more than 120,000 companies for their crucial processes in audits, deals and litigation and procurement projects, with billions of dollars at stake. Contact us today to find out more about our Virtual Data Rooms and how they can benefit your business.