When working with high-value financial transactions, mergers, acquisitions, and intellectual property, it’s only natural that you want to ensure your data management solutions adhere to security best practices. Brands rely on virtual data rooms to securely share confidential documents and sensitive information between interested parties and stakeholders during many data-sensitive business operations.
Of course, when you’re looking to implement a virtual data room system, you must look for specific features, encryption protocols, and DRM technology plugins that allow you to manage your digital assets more closely. If you’re researching virtual data rooms, here are a few tips that can help you choose an effective platform that aligns with your long-term business goals.
1. Prioritize digital rights management compatibility.
DRM, or digital rights management, is a solution that benefits copyright holders and gives them the freedom to license their digital assets and content across different platforms like Android devices and Apple smartphones. A DRM solution helps prevent piracy and limits unauthorized use. Many subscription services rely on DRM solutions to protect digital content like eBooks, streaming downloads, and even gaming services. In addition, DRM systems often rely on crucial delivery tools that empower creators and help prevent unauthorized use in the first place.
Especially if you want to ensure you remain compliant with copyright law and cater to your copyright holders, you want a virtual data room with DRM software integration capabilities. In some cases, this may require an additional fee, but it’s typically a low-cost solution for maintaining digital media and data security and compliance. Plus, many providers offer remote support options that help you troubleshoot system issues. It’s an intelligent investment for savvy enterprises.
2. Focus on robust access controls and permissions.
Some business owners overlook how necessary it is to assign permissions by user roles. This helps prevent unauthorized use while allowing high-clearance individuals the freedom to interact with digital assets and data as needed. For instance, during an M&A transaction, you may allow specific user permissions for interested parties, limiting associates’ data views to particular items or files. This can prevent data from getting into the wrong hands and helps provide greater process security.
You can also use these access controls to determine when someone interacts with your virtual data room and where from. For example, by spotting when decision-makers and investment prospects interact with critical data, you can see when you should or shouldn’t apply pressure to a sales situation. Access controls and activity logs are essential data points that you can leverage to your brand’s advantage.
3. Choose a platform that makes it easy to organize data.
One of the key benefits of a virtual data room is it acts as a data repository. You can store more significant swaths of historical business data and access it with practical search tools. It would help if you also focused your attention on finding a platform that makes it easier to structure and interact with your data. Whether you’re storing DVD playback keys, contracts, client documents, or financial information, you want to be able to navigate your data hierarchy with ease.
Look for platforms that provide remote support tools if you need a live demo or walkthrough of data structuring and organization capabilities. A virtual data room can remove some of the typical limitations of the traditional data room setup, but there is a noticeable learning curve you’ll need to master.
Take your time to find the perfect solution.
Whether an enterprise requires a virtual data room that’s compatible with DRM systems or it requires a software solution that enables it to organize and interact with mission-critical files and information quickly, there are platforms available to meet growing demands. Take your time to compare feature sets and use cases to find the right solution for you.