How to Find The Most Secure Data Room For Your Business?

The importance of having your sensitive corporate data protected cannot be overestimated: hacking, server failure, or unauthorized access to files can make you lose them. Yet, bulky and time-consuming paperwork isn’t an option, as well. What can help you out is a secure data room – the place where you can store all business documents without being afraid of any threat. A secure virtual data room is used to store, share, and access business materials for the owners and authorized third parties. It is a cost-efficient solution that saves you time and money and makes your information 100% safe and sound.

Today, the list of secure data room services isn’t confined to data storage only. The best virtual data room can provide you with collaboration and customization tools, flexible access settings, and many more options. However, before enjoying them, your company needs to find a worthy solution. Here’s a short guide on how to order a decent secure virtual data room.

1. Check out feedbacks on forums and independent review websites, such as Capterra or Technology Hub. You can also address these people personally and ask their opinion.
2. Find out how document security is established. Without virus scanning and 256-bit encryption, you cannot be sure about the safety of data. Keep away from companies that don’t pay due attention to data protection.
3. How can data room be accessed? Is it a cloud solution only, or you can install the software on your devices? Ideally, data should be 24/7 available for your employees by different means. The same applies to compatibility with platforms – if your staff uses Windows, iOS, and Android altogether, you need a versatile solution.
4. Look at the range of provided secure data room services. Is there everything you need? Before rushing to make an order, make sure that the company can supply your team with all the necessary tools and features.
5. Ensure all the file formats you use are supported.

When you have compiled the list of the best data room providers for your business, compare their pricing package and decide which one is the most agreeable. Ideally, you should use a 14-day trial to make sure your team can manage the software and platform without problems. Don’t hesitate to address the customer support: this way, you’ll test the assistants, as well.

Security standards of VDR

As discussed above, it is obvious that the best option would be a virtual data room, however, since there are numbers of VDR service providers on the market, it is hard to find a decent one. The following is a list of criteria one should keep in mind when looking for a required service:

• Multiple levels of authentication
  The ultimate goal of a virtual data room is the security of sensitive data. Therefore, those service providers who cannot deliver at least two-step authentication protocols should not be considered at all.
• Full administrative control
  For the same reason as the previous point, a client has to have full control over the data he or she keeps in the vault and over the access to the vault. Clients should be aware of when, where, and who accesses their documentation.
• Security Certificates
  Just like any other product, the virtual data room has to be certified. A perfect service provider will hold and be happy to present such certificates as: ISO/IEC 27001:2013, SOC 1 and 2, GDPR and HIPAA. Only those VDR providers who receive all of these certificates can be trusted with sensitive data.
• Encryption data protection
  Stored data should be protected with at least 128-bit encryption, however, the most decent virtual data room providers will deliver 256-bit encryption. It is still possible to crack, however, even the power of fifty supercomputers would require 3×1051 years to do so.This is the least features one should be looking for in a potential virtual data room provider. Nothing that doesn’t answer at least one of the points displayed above should be a subject for consideration.

Rating of the most secure virtual data rooms in Singapore

If you need a cost-efficient solution for such processes as audits, due diligence or M&A Singapore based virtual data

room is exactly the thing. According to numerous virtual data room reviews, users prefer the following providers:

• iDeals virtual data rooms;
• Onehub;
• Citrix;
• Digify;
• Securedocs Data Room;
• Box Data Room.

All of these solutions serve as a reliable, affordable and secure data room, but the range of features provides and the prices slightly differ. However, you can always figure out a suitable option for your company. After a detailed virtual data rooms comparison, we’ve picked out three leading secure virtual data room solutions. Let’s make a quick review.

SecureDocs

This is a versatile solution that would be equally suitable for large and middle-scale corporations. SecureDox is widely used for audits and due diligence tasks. The extensive list of virtual data room services includes a secure preview, document tagging, data protection options, role-based permissions, and many other features.

What users like is an agreeable pricing policy and a low starting cost. Besides, SecureDox provides a fast and easy access to files with the help of an intuitive, user-friendly interface. Although there’s no live chat, the customer support service is available via email and phone, and customers’ problems are solved within a couple of minutes.

iDeals

Being compatible with all popular OS (Mac, Windows, Android, iOS), iDeals virtual data room supplies users with an extensive choice of features and options. It supports over 25 file formats, and the documents can be previewed – convenient as never before! The intuitive interface makes is a great solution, even if your team is far from being tech-savvy. Smart and simple drag-and-drop navigation allows uploading files in a couple of clicks, and granular access control prevents unauthorized viewing. iDeals provider is the best data room for due diligence and M&A processes, as well as audits and other operations requiring short-term data storage. Among its outstanding features, we should mention total customization of the workplace (colors and logos apply), access expiry options, preview, bulk uploads, e-signing, document linking, notifications about new documents and updates, as well as task automation.

Among other virtual data room services, we should mention two-step authentication and 256-bit encryption: iDeals cares about data security, so you can trust it all of your mission-critical documents. The price of service can take a bite of your wallet, but the cost is totally justified by what you get at your disposal.

Box

Being a well-established, popular data room Box offers a comprehensive data storage solution for large companies. It is a versatile platform for sharing, storage, and management of corporate information that’s rich in features and functions.

Box is praised by users for not requiring much training – users can understand what is what during a day of use. The interface is a no-brainer, and a wide range of functions makes it flexible and convenient. Although it doesn’t provide 14-days free trial, you can order this solution without testing – don’t doubt, it will ease the task for the entire team.

Bottom Line

Ensuring safety and security of corporate data is a must for entrepreneurs who value their business. Say “Goodbye” to tons of paper documents and constant delays of fax and letters. Secure data rooms simplify sharing of business materials and ensure 100% protection of your data. Just order a service, upload your files, and have a total control over who and how can access your documents. It’s safe, easy, and quick as never before.