How businesses are using VDR solutions today to secure documents, digital assets and other sensitive information?

Confidential data of companies, which are valuable not only for the company itself but also for external parties, are subject to the greatest threat of cyber attacks. Check why it is highly recommended to use VDR solutions to secure sensitive information in the article below.

The Usage of Data Room Solutions for Businesses

Today, the handling of confidential data is often perceived solely in the context of the requirements of the law on the protection of personal data while losing sight of the fact that in the context of total digitalization, almost all data within a company is of real value and the leakage of many of them will have negative consequences for the business.

Over the past decade, the IT industry has grown significantly, with a corresponding increase in the number of mergers and acquisitions, share sales, and venture capital transactions. Millions of IT startups raise capital every day. None of them would want to lose the chance to get funding because the platform was too difficult to use. In such a competitive environment, auditing requires a user-friendly data room that works without plugins.

The dataroom solutions are used for timely detection and effective response to information security incidents. This will allow timely detection of malicious activity, attempts to hack the infrastructure, and the presence of an attacker, and take prompt measures to neutralize threats.

Secure Documents, Digital Assets, and Other Sensitive Information with the Data Room Solutions

Hackers can block the work of the company for a while. In many services, stopping work even for half an hour is critical – for example, when it comes to food delivery, a taxi, or an online store. Every minute the company’s losses are growing exponentially, and some users leave forever and stop using the service. To avoid the problems mentioned above, it is highly recommended to use the data room software.

Before the Internet, files were stored in physical data rooms. These rooms required additional costs, such as rented premises, a large amount of paper, staff, etc. There were also costs from professionals who wanted to use such rooms to review financial documents. On the part of the users, it was not only necessary to spend time and money in order to get to the room, but it was also necessary to make an appointment in advance and go through a large pile of documents.

With the advent of the Internet, this non-affective approach was refuted, and the process was transferred to a virtual data room. Among the most common causes of VDR usage to secure documents, digital assets, and other sensitive information are the following:

  • In mergers and acquisitions.

Keep all confidential documents in a safe place where they will be labeled to prevent leakage. All participants in M&A transactions will have the level of access to files in the space that you set.

  • To protect intellectual property.

Use VDR’s secure space to prevent your designs, know-how, patents, drawings, and any other sensitive material from being leaked.

  • When conducting an audit or tender.

VDR provides a convenient format for the secure exchange of confidential documents during an audit or tender process. With space, you can control file actions, manage access rights, and be able to determine the source in case of a leak.

Board Software Reviews & Comparison, Best Board Solutions for Your Company

This article describes the trends in the board software market. What are the reasons for the popularity of these tools, how is the software market evolving, and what are the best board portal reviews?

Why do companies choose the board software?

Due to the global pandemic, virtual board software options have surged in popularity as most businesses transition to remote work. It is likely because there are many benefits to moving to the virtual space to conduct board meetings. However, many successful companies have previously opted for full digitization even without being forced to switch to online platforms due to the pandemic. For this reason, it’s essential to consider what makes online board meetings so appealing.

The board portal or board management software is a cloud-based secure online data repository and platform designed for data storage and smooth collaboration between board members and high-level business professionals.

For most executives, the main selling point of board portal software is its cost-effectiveness. It’s hard even to list how moving to virtual boardrooms will reduce costs for your business, but let’s try:

  • First, you don’t pay the airfare and lodging for the directors from across the country or even the world to attend the board meeting. Even reducing these costs may be enough for many to start looking for ways to immediately switch to a board portal.

  • The virtual flow also lowers the cost of the equipment needed to run the meetings smoothly.

  • Holding high-level meetings can involve many anticipated and unanticipated costs that come out of the company’s pockets. If such costs can be avoided simply by holding board meetings online, it is a significant win for the company.

What are the best board solutions according to reviews?

The sheer number of choices makes it difficult to find the right board software solution for your business. Based on board management software reviews we’ve examined the market leaders and narrowed it down to a more manageable list of 10 best options:

  1. Azeus-Convene

  2. Boardmaps

  3. Diligent

  4. Nasdaq

  5. Board Intelligence

  6. OnBoard

  7. Sherpany

  8. DocSend

  9. Boardadvantage

  10. Boardeffect.

Boardmap – the leader among board solution

The Boardmap solution is designed to automate the preparation and holding of meetings. It is flexibly adapted to business needs and is now successfully used by both representatives of government agencies and private businesses. The software allows you to prepare and hold face-to-face, remote and absentee meetings of committees, working groups, and governing bodies with legally significant voting.

The system automatically sends the meeting participants notifications about the upcoming event and the receipt of tasks following the protocol. Within the solution, business processes are already set up and established, contributing to effective meetings and discussions. Employees may not have to worry about organizing meetings in the company or building work from scratch.

At the heart of the BoardMaps product is the idea of “questioning.” The issue is the crucial entity around which the work of the collegial body is organized, and the issue circulation is a technology that provides support for the entire life cycle of the issue: from its inception to decision-making and execution of instructions. With each status change, BoardMaps performs several predefined procedures: changing the access rights and visibility of the question, granting access to certain functions (for example, voting), allowing or denying editing, adding materials, etc.