Best Virtual Data Room Vendors for Secure File Sharing

software review

A virtual room is a space for working with documents like Google. Drive or Yandex.Disk. You can load important documents into it and open different levels of access to them. How to choose the best virtual data room vendors? Read the article below.

What Are the Best Virtual Data Room Vendors for Secure File Sharing?

The best data room vendors for secure file sharing are:

  • ShareFile Virtual Data Room.
  • Firmex Virtual Data Room.
  • Secure Docs Virtual Data Room

The data room platforms above are the universal data exchange platforms that combine a virtual data room and an IRM system. This approach allows you to fully implement the concept of DRM-protection of documents on the devices of external and internal users throughout their lifecycle of documents. The data room software allows you to securely store and provide access to employees and external users to company data, restricting the ability to work with documents only in the browser. Label documents and protect file contents from unauthorized attempts to capture screenshots, copy text, and print documents.

Summing up the above, the answer to the question under consideration can be formulated as follows: if the security of the corporate information disseminated through the service is critical for the organization, if it is important to have centralized management and reporting on the service, and there is also a need to integrate it with its own information systems, then it is certainly preferable use an enterprise-class service, or, as it is often called, a “for business” service. If there are few employees who need such a service, or the information transmitted through it is not very critical for the organization’s business, then free services for individual users can be considered as a possible option.

The Effectiveness of Data Room Software for Secure File Sharing

Depending on the specifics of the file-sharing or transaction, the purchase object can be checked both before and after the main terms of the transaction have been agreed upon. The seller usually conducts a legal, tax, and financial due diligence of the property, and, if necessary, also a technical one. Since, as mentioned earlier, the legislator has not established a clear framework for mergers and acquisitions, this may lead to a decrease in the use of this tool in the development of business planning for the development of an enterprise.

In addition, it is recommended that the internal documents of the company provide for the obligation of the executive bodies and heads of the main structural divisions of the company to promptly provide complete and reliable information on the agenda items of the meetings of the board of directors and at the request of any member of the board of directors, as well as determine liability for failure to fulfill this obligation.

It is also recommended to envisage and fix in the company’s internal documents the procedure and procedures according to which the executive bodies provide information to the virtual data room vendors, for example, through the corporate secretary of the company, if the company has introduced the position of the corporate secretary. Besides, if personal data is planned to be used for commercial purposes, the person must also be informed in advance about the specific purpose of commercial use; if personal data can be used due to personal consent or the availability of data, otherwise anonymous, the deliberate collection, exchange, and personalization.