What Is a Cloud Data Room?

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A cloud data room is a cloud solution specifically designed to store and sharing of confidential business information in a secure setting. They’re utilized to assist with due diligence during M&A transactions, IPOs, and legal proceedings, however they can be utilized in any scenario that requires safe and efficient management of sensitive documents.

Virtual data rooms are extremely elastic and can be accessed using an internet connection. However, unlike traditional laptops, desktops and servers that could be damaged or stolen from your office, data stored in the cloud is secured by multi-layered security measures. This includes firewalls and encrypted transmissions and multiple backups to protect against accidental data loss.

As well as this enhanced security, a virtual data room comes with a variety of features to help the processes dealmakers manage. They include a Q&A section, advanced permission controls and notes and bookmarks. They also provide comprehensive analysis of the activities. Many providers offer a better quality of customer service than traditional cloud storage, including multilingual support via phone, email, and in-app.

To locate a reputable cloud data room provider, it’s worth checking whether they have SOC 2 certification and ISO 27001 accreditation. This is an independent audit which assesses a service’s ability to safeguard sensitive data from threats and proves their conformity to internationally recognized standards.