How to Protect Your Confidential Documents With Data Room Software Safety

While free file sharing tools such as Google Drive and Dropbox may be great for sharing files between small groups, they do not offer the same level of security that dedicated data rooms offer. The fact is, they do not have the permissions settings, auditing capabilities, watermarking, and other features that you need when transferring sensitive business documents. This is a serious problem, particularly during M&A transactions where a leak could be detrimental to the deal and your company’s image.

It is essential to use a virtual space to secure your confidential data. Firmex is an established platform that provides solutions for the government, investment banking biotech, energy and legal sectors. It uses multi-layered encryption when transfer and storing data and has multiple servers for disaster recovery. It also provides document control and DRM, such as dynamic watermarks, lock-down files, and document expiration to avoid data breaches.

Box is another great VDR. It’s cloud-based storage system that allows M&A and contract negotiations. It provides bank-level encryption both during transit and while the data is stored. You can also personalize the data room to match your own branding. It also provides high-quality previews of 30+ types of files as well as robust activity tracking. It also offers a broad variety of integrations to facilitate sharing content with colleagues.