Do you leave your office door open with critical documents inside? Probably, no (if you care about security). Similarly, industries that rely on data must protect their digital assets with the same level of vigilance. Otherwise, they risk becoming part of the following alarming statistics:
How can you ensure the highest level of security for your documents? Read our post to learn!
Cybersecurity for data-driven industries. Why is it essential?
Information privacy is a big concern for data-driven industries. With protected documents, they can ensure secure operations and regulatory compliance. Besides, it helps establish trust with clients and stakeholders.
However, without adequate protection companies may face the following risks:
- Breaches and financial losses. Poor data protection makes industries vulnerable to cyberattacks. As a result, they experience breaches, fines, and disruptions.
- Reputational damage. Failing to protect sensitive data can erode public trust and lead to loss of clients and decreased investor confidence.
- Legal penalties. Non-compliance leads to fines, legal liabilities, and additional regulatory scrutiny.
- IP theft. Due to unauthorized access to proprietary information, teams may face lost competitive advantage and innovation setbacks.
- Privacy violations and client trust loss. When client data is exposed, it breaks privacy agreements and diminishes customer loyalty. Therefore, clients may seek more secure alternatives.
Real-life story
A global shipping giant, Maersk, experienced the NotPetya ransomware attack. The malware spread through the company’s network and locked critical data across continents.
The attack crippled Maersk’s shipping, port, and logistics operations. It cost the company around 300 million dollars. Despite having extensive cybersecurity measures, Maersk’s failure to segment networks and maintain sufficient backup protocols led to massive downtime.
So, how can you protect your privacy to eliminate these risks? Discover virtual data rooms. The solution today’s leading business leaders use for top-notch security!
What is a virtual data room?
It is dedicated software for secure document storage and sharing. Data rooms employ advanced encryption, multi-factor authentication, and granular access controls. In addition, the platforms offer detailed audit trails for accountability.
Apart from these online security features, the solutions comply with industry standards and regulations, including GDPR. Furthermore, providers implement physical security measures, including data center protection with restricted access, surveillance, and backups.
As Angelo Dean, CEO of datarooms.org, emphasizes, VDRs “combine the latest encryption technologies with strict access controls to ensure that data remains secure throughout the entire process”
Learn more: Virtual Data Room Pricing.
How does the dataroom software ensure cybersecurity?
Data-driven industries can safely keep and share documents relying on the following VDR features:
1. Infrastructure security
- Physical data protection. Providers implement strict access policies, secure vaults, and uninterruptible power at data centers.
- 99% uptime. Redundant infrastructure provides a highly resilient environment with guaranteed uptime.
- Real-time data backup. Encrypted VPN tunnels back up documents continuously and protect them from loss.
- Disaster recovery. Geographically remote data centers and emergency prevention scenarios ensure data availability.
- Multi-layered data encryption: Providers use high-grade TLS protocol for file transfers and 256-bit AES encryption for documents at rest.
2. Access security
- Granular permission settings. Admins can define permissions separately for each user or on a group level, with the ability to revoke them at any time.
- Two-factor verification. This authentication method requires a password and a single-use code sent to the authorized user’s phone.
- Time and IP-address restriction. Login can be restricted by IP address, with policies for session duration and file access expiration dates.
- Logging and reporting. Detailed audit trails document every action in a digital data room for a full review of user activity.
- User security impersonation. Administrators can view document access from the perspective of any user to ensure they only see documents they are authorized to access.
Activity log
3. Integral document security
- Dynamic watermarking. Customizable watermarks containing the user’s name, IP address, date, and time of access identify the source of a leak in case of a security breach.
- Fence view. A barred screen area helps prevent security breaches through screen printing, screen capture, and unauthorized viewing.
- Secure spreadsheet viewer. Data in Excel spreadsheets can be securely protected, viewed, and manipulated online, with different access levels available, such as restricted viewing without formulas or secure viewing with or without formulas.
- No footprints. No data is stored on the client side when viewing secure documents. The information is temporarily held in random access memory.
- Remote wipe. Data room users can remotely lock and wipe encrypted data from a lost or stolen device.
- Remote shred. The software allows admins to set the duration of document availability and revoke access to files after they have been downloaded.
4. Compliance
- SOC 2 and SOC 3. These certifications demonstrate that data room services follow strict security principles, including communication, control monitoring, risk management, and physical data access.
- GDPR. All compliant vendors handle personal data with privacy and integrity while aligning with local data protection laws.
- HIPAA. This compliance verifies that a provider’s data handling practices meet the requirements of the Health Insurance Portability and Accountability Act.
With a provider that offers all these features, you can focus on your deal and never worry about data security.
Conclusion
Virtual data rooms are the best solution for robust cybersecurity. Unlike traditional cloud storage solutions, they provide a secure environment for storing and sharing information. In particular, the software minimizes the risk of unauthorized access and data breaches. Moreover, VDR compliance with industry standards ensures adherence to regulatory requirements.
Explore the top data room services, choose the best one, and protect your data to the highest standards.