The location and method of storage and sharing of your secret documents throughout carrying out specific business operations and transactions will determine how secure they are. The most secure approach to guarantee that your data is kept safe throughout M&A, legal proceedings, compliance, or other mission-critical activities is to use a VDR outfitted with the necessary tools and capabilities to protect your data.
Can VDR Be Accessed with External Information Gathering Techniques?
The simplicity of the Internet has made document sharing simpler than ever. While the Internet has facilitated quick, easy, and effective communication between numerous parties located anywhere in the world, it has also given rise to security and document control concerns for businesses. These dangers may result from smaller oversights that can’t be prevented, like human error, or more serious mistakes that could have been prevented with the correct document sharing software. Your business should think about better options for the protection of confidential information.
Yahoo, Target, eBay, and Equifax are a few well-known businesses that can attest to the significance of online data security. All of these organizations had security problems that allegedly put customer names, dates of birth, passwords, social security numbers, credit card information, and more at risk. These customers were exposed and hence entitled to compensation, which cost the aforementioned businesses millions of dollars. Furthermore, breaches like these can significantly reduce a company’s sale price or even scupper a deal when a company is pursuing a merger or acquisition. If a hack can affect well-known brands like these, then it can affect any company, which is why it’s critical to identify any flaws in your existing way of document sharing and make an effort to strengthen your security as soon as possible before it’s too late.
What to Avoid
Although a virtual data room is a crucial tool for managing and securely sharing your personal documents, several businesses and individuals continue to use less secure services like email or Google Drive. A more specialized means of storing and sharing than Email, Google Drive, or Dropbox may not be necessary for all firm data, but it may be necessary for your financial information, intellectual property, or litigation papers. They ought to be trusted with software that can compete with the hazards involved with their leakage.
Anything less than a VDR just won’t do when it comes to organization, usability, and a collaboration environment impenetrable to undesirable third parties. The security of your company and its employees shouldn’t be taken lightly.
Generic cloud-based services, though frequently affordable or even free, could end up costing your company much more in the long run in the event of an unanticipated hack. The email addresses and passwords of more than 68 million Dropbox users were exposed in 2012. Although precautions were taken and users were made aware of the possible hazard, this episode should serve as a warning to professionals:
Do you really want to put your private data at risk just because you opted for a standard file-sharing service rather than a customized one?
Another common method that might not be adequate for exchanging your most confidential papers is corporate email. Keep in mind that if a hacker gains access to an email server that has been used to transmit sensitive company information, they will be able to see anything that has previously been shared, endangering the security of any documents you may have sent or received. Consider any sensitive attachments that are currently in your inbox or sent items folder and what may happen if they ended up in the wrong hands.
So, there are few chances that VDR can be accessed with external information gathering techniques.