A secure data room for businesses is a cloud solution specifically designed for the secure sharing of confidential documents and files used in business. They are used during the due diligence phase of an acquisition. They offer a variety of options, including advanced permissions, Q&A tools, notes and bookmarks and multi-factor authentication. They can be accessed from anywhere in the world via any device that is connected to the internet. This makes them ideal for teams working remotely, whether at home or at work.
Secure data rooms can create a big jingle and dance about the security of their system with words like’most secure virtual data room’ or ‘highly secure data rooms’ but the reality is that these tools are not any more secure than tools like Dropbox or Google Drive which simply use encryption to secure data at rest and don’t ensure that temporary files will be deleted after they’ve fulfilled their purpose. It’s like a food manufacturer focusing on how healthy their cereal bar is because it’s low in fat without mentioning that it’s also 80 sugar-free, or a house developer who claims to have a fire certificate for their timber cladding when the building is actually only 12 feet away from the nearest river.
Firmex VDRs are simple to use, inexpensive and backed by 24×7 support and have been trusted by over 120,000 businesses to manage crucial processes during deals or audits, litigation or procurement projects that have billions at stake. Find out more about how our Virtual Data Rooms can benefit your business by getting in touch today.