MANHATTAN BEACH, CA / ACCESSWIRE / March 15, 2022 / VDR Workspace Insights Improve Security, Save Time, and Helps Users Find Investors. From finding early investors to managing mergers and acquisitions, businesses rely on data and documentation to ensure that these transactions occur efficiently and securely. In the days of physical contracts and corporate record books, this often required the parties involved to meet in person, in a carefully secured room. Now, with the vast majority of data being digitized, businesses are turning to virtual data rooms, or VDRs, to more effectively manage these transactions and interactions without compromising security. Utilizing a VDR offers improved security and workspace insights to make the process even easier.
Enterprise-Level Security
While basic document-sharing solutions with minimal security might be sufficient for documents that don't contain sensitive information, when it comes to M&As and CMIs, Users should be looking for enterprise-level security. Many VDRs can supply this, but more specifically, Users should search for software that is:
ISO 27001 Certified
AICPA SEC 2 Certified
EU-US Privacy Shield Certified
HIPAA Compliant
PCI SAQ-D Compliant
FISMA Compliant
These certifications are only awarded to the most secure VDRs around. This means they offer secure connections for all data, whether inbound, outbound, or at rest; premium-grade TLS protocol to encrypt data in transit; and 256-bit advanced encryption using the strongest block ciphers available. It also offers multi-layer security firewalls and real-time virus protection to secure Users data from all digital threats.
Effective User Management
Of course, security extends beyond the software's encryption capabilities. Effectively managing access by users is also key to ensuring that User's data is not compromised during the M&A process, search for investors, or other business transactions. A VDR allows User to set accessibility levels for various groups so User can ensure that every party involved has the access they need.
This could include restricting access to certain documents, while allowing more widespread access to less sensitive materials, or it could mean allowing only a few individuals to download the file while simple allowing others to view. These customizable access levels, as well as a history of who is viewing, editing, and downloading various files helps ensure User know exactly who's handling Users sensitive business documents.
Customized Workspaces
In addition to customizing users' accessibility, a VDR also offers customized workspaces for each user. This helps save time in business transactions by ensuring each party involved can easily view relevant documents and the tasks related to those files. Users can see exactly which documents they still need to review, where their signature is required, and other tasks to ensure that the process continues moving forward. Those with appropriate permissions can also track the workflow for each document to pinpoint the source of any delays in the process.
Insights for Finding Investors
Gauging the interest level of potential investors can be difficult, which is why User need more than security. Users need effective workspace insights to make it easier to view how users interact with file, and algorithms that can tell User what those activity levels mean. A highly visual overview, such as the new EZ-Insight's dashboard, helps User to see which potential investors are most active in reviewing User's content. The proprietary formula used in more advanced workspace dashboards ranks users by activity metrics to tell User how likely they are to invest. This can help User to focus User's time and efforts on targeting top-tier users to improve User's odds of finding the investors Users business needs.
With improved security, customizable user profiles, and easy-to-understand workspace insights, the rise of the virtual data room is making it easier for modern businesses to get things done in a time-efficient, highly secure manner.
About CapLinked, Inc.
CapLinked, Inc. is a fintech innovator whose cloud-based platform is used to protect information shared between firms and manage interactions during multi-party projects. Thousands of companies in over 113 countries worldwide rely on CapLinked's enterprise, self-serve, and API product lines. Eric M. Jackson (PayPal's first head of US marketing) and Christopher Grey (former private equity and investment banking executive) founded the company in 2010. CapLinked is a trademark of CapLinked, Inc.
Visit https://www.caplinked.com to learn more.
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SOURCE: CapLinked, Inc.