read the article about Secure Document Sharing in a New Business Era
VDRs are essential for companies that handle sensitive data and facilitate many business processes. They should be considered part of a larger security strategy for data that includes regular risk assessments, training, incident response plans, ongoing monitoring and the introduction of robust technical controls.
The most obvious reason to implement the vdr is to safeguard confidential business documents during transactions. A business conducting due diligence prior to a merger and acquisition will need to make it as easy for the prospective buyer of the documents to read the documents without worrying about theft or misuse. The need for speedy secure sharing of documents can occur in many scenarios. For instance, when legal counsel needs access to documents from the company or audit reports or a board member who is located far away must review important documents.
VDRs provide security features for data like access control, encryption, and audit trails that help ensure conformance with regulations, like GDPR. Many VDRs offer additional options like dynamic watermarking. This covers confidential documents in a visible or invisible marker that can be traced if they leak outside of the VDR.
In the event of an incident, the detailed logs that a vdr stores can help with forensic investigations. They can also assist companies understand what data was affected and how the breach occurred. In addition the capabilities of auditing a vdr can provide insights into areas where further improvement may be required.
