Online data room and SSL
Online data rooms are cloud-based services that are designed specifically for secure storage and sharing of sensitive documents. They are commonly utilized for due diligence in M&A transactions, but can be used by any business which requires a secure environment to transmit sensitive documents to selected third parties.
A virtual data room can make due diligence more efficient and effective. It offers a shared platform where everyone involved can access and examine documents. This can reduce the amount of time you are spending sifting through emails and other channels of communication in order to find the information that you need.
Most VDR providers provide a range of security features that assure you that your confidential documents are protected from hackers and other unauthorized parties. Two-factor authentication, SSO and granular permissions are typical features. They can also provide dynamic watermarks, which appear on every document that is downloaded printed, printed or viewed and may include the user’s name IP address, name, date and time of access, and many more.
VDRs can also be used to create and co-ordinate the signing of documents for multiple parties. This is a significant improvement over traditional methods of sending multiple copies of documents back and forth for sign-off which could result in editing conflicts, which can delay the deal process. Using a VDR will streamline the process of collecting digital signatures, and speed up the process of closing M&A deals.