data room services

Protect and retain sensitive data with virtual data room services

To ensure the security of modern business applications, including data room systems, several approaches are used. The choice of approach depends on the preferences and financial capabilities of the customer.

How to maintain and protect corporate data in the data room?

Digital business transformation is the introduction of modern technologies into the business processes of the enterprise. This implementation solves a number of problems: process automation, remote control, interaction with customers 24/7, and more. The advantages of this process are the improvement of the customer experience, the efficiency of decisions, the innovation of the process, the use of Big Data.

One of the tools of business digitalization is the implementation of virtual data rooms. This is a special approach to doing business, in which the customer comes first in the company’s activities. The main goal of the data room strategy is to create a single ecosystem to attract new and develop existing customers. The main tasks of the virtual data room service  include analysis of attracting new customers through various channels, providing secure communication, choosing an interaction strategy, built-in sales funnel, document management, closing sales, re-communication, and analytics of the company.

The basic users of data room systems in economically developed countries are financial, insurance, telecommunications, pharmaceutical companies, airlines, firms engaged in wholesale and retail trade, information technology, medical and educational institutions.

It is essential for the optimization of the company’s work as a whole that the integrated data room provides coordination of actions of different departments, providing them with a common safe platform for interaction with customers. This eliminates the situation where the marketing, sales, and service departments act independently of each other and their actions are not coordinated. In addition, automation creates the preconditions for overcoming various staff mistakes.

Data room security policy

Data Room service is one of the most valuable systems because it stores all the information about the company’s counterparties and the conditions for working with them. Therefore, the company’s data room systems are the targets of both external and internal attacks. So, let`s analyze what security mechanisms data room vendors use for ensuring data protection:

  • Reliable password

Strong passwords are an important component of good security, and cloud security is no different. Passwords should be unique and complex so that attackers can’t guess them or re-use compromised passwords from your other accounts. Change passwords regularly or if your account is compromised. If necessary, use the services of cloud service providers that offer two-factor authentication.

  • Encryption of sensitive data

Encryption is one of the most effective ways to protect your data. By encrypting sensitive data, you ensure that your information is readable only by trusted parties (only those who have the decryption key).

  • Blockchain

The next very important trend in the work of data room systems is the use of blockchains. A blockchain is a permanent list of related records called blocks. Blockchain can be used as a means of security by assigning network keys that restrict unauthorized access to data. The blockchain also stores and encrypts personal data and verifies access to it without transmitting any specifics, thus controlling the level of access. This creates a more reliable source of data for customers and organizations.

A specific set of additional protection tools must be determined in each case, it will depend on the overall network architecture and the architecture of the data room system.