Tuesday, 28 July 2020 15:04

Safe and convenient: FORDATA is a virtual solution for sharing sensitive data


In the lives of medium and large companies, sooner or later there comes a moment when internal documents need to be transferred somewhere outside. Usually, data security is then an issue that gives the people responsible for this process sleepless nights. In a situation of required legal or financial audit or during transactions regarding the company itself, e.g. the sale of shares, we just cannot escape it.

However, we can learn how to do it in the most simple and safe way. FORDATA has a solution that works great in such a scenario.

We can easily imagine how this is done in most enterprises. Documents regarding critical issues of the company are often circulated with the help of Dropbox, Google Docs / GSuite or other cloud products. Yes, they do their job, but they definitely don't offer such a high level of security and control as FORDATA. The Virtual Data Room offered by the company is based on two foundations: Online due diligence, extremely helpful in the case of market transactions important for the company, as well as Secure File Sharing - an option that allows sharing information outside the company in an absolutely secure way.

Enterprises use such solutions usually when there is a need to transfer confidential company data outside of it. Especially for projects that require a very high level of security - the Virtual Data Room sets permissions for each employee / employee groups and it is certain that nobody will bypass them. What's more, every suspicious behavior is recorded - the risk of leakage (which could be catastrophic while, for example, selling a company or part of it) is minimized.

FORDATA VDR is primarily an ultra-secure place to share data. Its original purpose is to provide confidential, sensitive documents to investors, advisers and partners outside the organization. There are quite a few situations in which information relevant to the enterprise must be disclosed to other entities, but we would like it to be done in the most secure way possible. Fordata VDR is basically the best way to do it.

What is the Virtual Data Room?

Virtual Data Room is an online document repository, which is characterized by a very high level of security and high management capabilities. VDRs are used to place company documents in them. Such solutions are used by companies that are forced to transfer internal files to other entities, e.g. lawyers, advisers, banks, auditors, and - commonly in mergers and acquisitions - by investors. Virtual Data Room makes up for disadvantages of other ways to transfer data. FTP is the simplest possible solution, but it is definitely not secure enough for company data, while SFTP still shares other FTP disadvantages and is simply non-intuitive. On the other hand, typical cloud solutions do not allow for more advanced information protection options, such as blocking the ability to save a file to disk, print the file and simple and flexible permissions management - this is what Virtual Data Room can do. Sending materials by e-mail or saving them on discs, in turn, means a total loss of control over what happens with the information provided. FORDATA VDR is a solution that combines a high level of security and great convenience.

Virtual Data Room is a brilliant compromise between data availability and security: documents can be viewed even from the other end of the world. All you need is a computer with internet access and a FORDATA account/guest link, set up by the administrator and an appropriate permission. Connections from the repository are encrypted, secure and you can be sure that confidential data will not fall into the wrong hands.

VDRs are used in business mainly for such operations as mergers & acquisitions, where you must provide your own strategic documents to another entity. However, it should be done in such a way as to preserve full confidentiality: avoiding, for example, the situation in which employees or other unauthorized persons learn about the details of the operation - then speculation and attempts to "take out" documents may begin, which may have tragic effects for the whole process.

FORDATA, responding to the challenge of maintaining security, create new opportunities. The information their VDR usually contains is very confidential, strategic for the company that owns it. There may be all types of protected data in it: e.g. financial, HR, legal and other, to which only a few should have access. In the Virtual Data Room you can also place information that strictly relates to intellectual property, and also that closely correlated with the GDPR (and therefore also personal data).

The invaluable advantage of the Virtual Data Room is control - the administrator can therefore not only grant permissions to specific users - repository participants, but also check their activity. It is possible to check who viewed what file, at what time, how many times, etc. The person responsible for the Virtual Data Room can therefore react in advance to signs of suspicious access to information, and secure the repository or part of it beforehand using the authorization system (user A has access to files 1, 2, 3, but not to 4, 5, 6 to which user B has access - in any configurations and scenarios).

What speaks for FORDATA VDR?

First of all, security and control, but convenience and accessibility are also great values ​​for business. The high level of security results directly from the idea behind VDR - the service provider is responsible for support that is provided around the clock. What's more, you can also opt out of your internal VDR administrator role: this will also be taken care of by the supplier who will migrate files, set permissions in accordance with the guidelines and make other changes on behalf of the client 24 hours a day.

VDRs can be read-only systems - it is impossible, for example, to copy and modify any document. The administrator may also impose other restrictions - for example a ban on downloading documents and printing them, and FORDATA Virtual Data Room will be able to register, for example, the use of the Print Screen command on the user's side. In turn: watermarks can identify the person who decided to take a picture of documents and take them outside of VDR.

The solutions provided by FORDATA do not protect data only in the context of users: hacker attacks are also important. Due to the fact that the company's solutions are native applications and are not based on Flash technology - very popular in this sector - the risk of incidental leakage is really minimal. It is also worth noting that security level is identical to these known to us from banking: communication is encrypted using the EV SSL 256 bit protocol, secure passwords are required, there is support for two-factor authentication and others. What's more - you can limit the pool of IP addresses that can log into FORDATA Virtual Data Room.

FORDATA VDR - how does it work?

Very simply. The service provider starts the system within 15 minutes of purchase, and the simplest VDR version can be purchased via the FORDATA website - we decide how much data we want, how many people will have access and are ready to go. Logging in to FORDATA VDR is also very simple: once received a link to the system on the service provider's side, login and password given by the administrator (initial, then you need to change it according to the guidelines). After successfully logging in to the service, we can view the documents within the rights granted to us. Browsing documents, granting permissions, changing Virtual Data Room settings, displaying user statistics are really pleasant activities: the FORDATA Virtual Data Room interface does not scare and is focused mainly on efficiency. FORDATA VDR is focused on full professionalism and you can feel it.

This does not mean, however, that convenience has been omitted in the creation of this system. There are such "flavors" as drag'n'drop, it is possible to perform mass operations (e.g. blocking of temporary permissions for entire groups), there are advanced options for searching documents, and permissions can be given at the stage of loading files into the cloud.

Enterprises that need to provide company data outside or work on projects with the highest level of confidentiality should rethink their previous activities in the context of sensitive data. Caring for a high level of security during critical moments in a company's life saves money and time: if given information falls into the wrong hands, it can lead to losses in the company's assets. Preventing this in advance is definitely a best business practice and FORDATA Virtual Data Room is a great solution that allows you to overcome such problems.

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