When you think of a data space, you probably think of a virtual world that assists in the due diligence process of an acquisition of a company. It’s where both sides of an agreement can access and view sensitive information such as financial performance, patents and development of products. A well-designed and organized dataroom can be used for internal file sharing, storage and collaboration projects. To get the most out of a room for data, it’s essential to ensure that access control is secure.
You can eliminate the possibility of disclosures that aren’t authorized by defining granular permissions for a folder or document level. By tracking data room activity it is possible to keep track of who looked at what when, and for how long. This will enhance transparency and accountability among collaborators.
A reliable VDR can allow you to retract documents even if they’ve been downloaded. This can reduce the risk of sensitive information falling into the wrong hands. It will also come with a reliable redaction feature that allows you to block out sensitive https://dataroomconference.com/what-to-expect-from-the-data-room-solution/ information without having to manually edit the document.
Many VDRs offer per page pricing. This can be a great option for small, well-defined project, but it could be expensive for larger complex projects that have insufficient or undefined variables. This is why it’s important to find out if your chosen VDR provider charges by the number of documents they have or by the amount of activities within the data room.