According to a market research report shared by industry research firm IBISWorld, the virtual data room vendor industry has grown at an annualized rate of 16.7 percent from 2009 to 2014. The virtual data room (VDR) online repository works as a perfect substitute for physical data rooms by managing the storage and disclosure of documents related to M&A transactions or even venture capital transactions. These online data rooms offer better efficiency, security, and save costs.
The majority of data stored and distributed through VDRs is confidential, and hence maintaining their security with restricted access is of the utmost importance. For the protection of such sensitive information and limited disclosure without any leakage, foolproof PDF security software is required.
Let’s look at how this software can help maintain security for the smooth functioning of virtual data rooms.
Limited User Access
Unlike physical data rooms, where only one bidder team can access the confidential information related to the company undergoing the M&A process, it is possible for multiple users to access virtual data rooms at once. This facility is enhanced by a PDF security tool through secured login credentials for every user. The tool can enable the VDR vendor to offer access only to the interested bidders and their advisers as well as remove user access once the application is withdrawn. An unauthorized user will never be able to login to the VDR, and thus can never access its confidential data.
VDR Access for Multiple Devices
A comprehensive PDF security solution for the VDR will empower users to access it using their login credentials across multiple devices. The security tool will lock user access for select devices to offer better flexibility to the bidders. Specific time limits can be placed to monitor viewing time of the confidential documents across devices. It is possible to set expiration dates to restrict document access based on the number of pages viewed, number of days from initial login, and other factors.
Copy Prevention and Protection
The bidders who have authorized access to the VDR may try to forward the information documents to others through unauthorized access attempts or even by printing documents. Effective PDF security software for digital rights management can be used to prohibit any document printing, or specific restrictions can be placed on the number of document pages that can be printed.
The PDF security tool can help avoid any other attempts to copy information such as offline downloading, image capture through print screen or screen grab tools, and so forth. If a document leaks through, the security software inserts a watermark revealing the user name, company name, email ID, and so forth. This would discourage any authorized users from sharing the private information, as they would not want their names tracked through the watermarks.
Virtual data rooms with a relevant PDF security solution can ensure secured enterprise file sharing and smooth collaboration for M&A transactions. If you aspire to be a reliable virtual data room vendor, opt for the right PDF security software.