Data breaches have become increasingly common in the digital age, which results in the reevaluation of security methods many organizations employ. One of the most common ways to manage data securely online is by using virtual data rooms.
This guide will cover everything you need to know about data room security — what data roms are, how they work, and why they should be used by any business that handles confidential information.
By reading on and checking a few data room reviews, you will understand how these tools can keep your valuable assets safe while ensuring complete regulatory compliance.
What is a data room and why is it safe?
A data room is a secure digital repository that can be used to store, manage, and access sensitive information. It is typically only accessed by authorized personnel with assigned user roles and privileges. All communications between the virtual data room and its users are encrypted and monitored for security risks.
An electronic data room with top-notch safety measures provides an optimal environment for handling confidential files. Access is strictly granted to those who have been given permission, and it has built-in anti-fraud and anti-hacking features that safeguard the data from unwanted intrusions.
Data rooms guarantee top-notch data integrity thanks to the following:
- Advanced encryption protocols
- Multi-actor authentication
- Rights management and user access levels
- Real-time updates on usage activity and attempted breaches
Data rooms also follow strict data management compliance standards that ensure they meet all regulatory requirements.
In addition, data room services provide superior collaboration capabilities for users to share files with each other securely. The tools available in the data room help users easily search, filter, and organize documents.
International certificates and standards for data room software
As already mentioned, data room software must meet strict international standards and certification requirements to be considered secure.
The most important certifications that data room providers need to obtain are ISO 27001:2013 and SOC2 compliance.
- ISO 27001:2013 is an internationally recognized information security management systems (ISMS) standard. It provides the baseline security measures for any data room provider to ensure the safety of user data.
- SOC2 compliance is a type of attestation report that ensures a service provider has taken appropriate measures to protect confidential information from unauthorized access.
Data rooms must also be compliant with GDPR, HIPAA, and other applicable regulations and standards. Here’s why:
- GDPR compliance requires that data room providers are transparent about their security measures and the rights of their customers to access, delete or transfer data.
- HIPAA compliance indicates that the service provider has taken steps to protect sensitive information related to health records.
Best data rooms for security in 2023
When selecting the best virtual data room providers to meet your needs, you should consider each provider’s features, cost, and security measures. So, conducting a data room comparison is essential.
Here are some of the top-rated virtual data room providers available in 2023.
iDeals Solutions
iDeals Solutions offers a secure data room solution with advanced security measures and features. It meets all the necessary international standards for data protection and provides superior encryption protocols for safe data communication.
This data room software also has advanced digital rights management tools to ensure user access is monitored and secure.
Intralinks
Intralinks is a leading provider of data room technology for businesses of all sizes. Its platform offers automated rights management, advanced encryption protocols, and other security measures to protect data.
It also has robust collaboration tools and auditing capabilities to track user activity.
Firmex
Firmex provides an advanced data room solution with access control, activity alerts, and secure file transfers. In addition, its platform supports multiple languages, allowing users from around the world to interact with each other in a secure environment.
This online data room software also has enhanced collaboration tools that allow users to co-edit documents and collaborate on projects in real time.
DealRoom
DealRoom is a secure data room provider with features to ensure user access and file security. In addition, it has built-in tools for rights management, project tracking, and advanced encryption protocols.
It also has built-in compliance features to ensure the company meets all regulatory requirements.
SmartRoom
SmartRoom provides a secure virtual data room with features to ensure the security and privacy of user data. It meets all international standards for ISMS and is compliant with GDPR and HIPAA regulations.
Besides, its platform also offers secure file sharing, document control, and powerful collaboration tools.
These are some of the best virtual data room providers in 2023. Before selecting a provider, evaluate its features, cost, and security measures to ensure you get the best value.
Conclusion
- A data room with exemplary security ensures the secure storage of confidential information, restricting access only to those who have been authorized.
- A virtual data room has advanced anti-hacking and fraud prevention mechanisms that guard against any unwelcome breaches or thefts.
- The virtual data rooms discussed in this article are some of the most trusted providers available in 2023. These are iDeals, Intralinks, Firmex, DealRoom, an SmartRoom.
- When choosing a provider, consider each one’s features, cost, and security measures to ensure you get the best value.
