What is a Virtual Data Room?
A virtual data room (VDR) is a secure online platform that enables the storage and distribution of sensitive documents and information. It is often used in the context of mergers and acquisitions, due diligence, and other types of financial transactions, as well as in the legal and compliance industries.
VDRs provide a secure and controlled environment for parties to share and review documents, and often include features such as User Management and Control (user login, login auto expiry, assigning access permission, etc.), Data Management and Control (access permission, watermarking, prevent document download / save, print, edit, or share), User Activity Report (when a user was given access, what documents they opened and when, if documents were shared or downloaded). They can be accessed from any device with an internet connection and can be used to facilitate collaboration and communication among multiple parties.
Some of the benefits of using a virtual data room solution include:
- Improved security: Virtual data Room solutions are designed to protect sensitive information from unauthorized access, and often include multiple layers of security such as encryption and firewalls.
- Ease of use: VDRs are user-friendly and can be accessed from any device with an internet connection.
- Increased efficiency: VDRs can streamline the document review and sharing process, allowing parties to easily access and review relevant documents in a centralized location.
- Reduced risk: Using a VDR can help reduce the risk of data breaches and other security incidents, as well as the risk of errors or misunderstandings that can occur when sharing sensitive information via email or other methods.
What are the benefits of Microsoft 365 for VDRs?
Microsoft 365 is an excellent solution for businesses looking to set up a virtual data room (VDR) to manage sensitive information. With built-in security and compliance features, a Microsoft virtual data room built upon M365 offers a secure, scalable and reliable VDR solution that can help businesses protect their data and ensure compliance with industry regulations.
Some of the benefits of using Microsoft 365 for VDRs include:
- Familiarity: Many people are already familiar with the Microsoft Office suite of applications, which can make it easier for users to navigate and use the VDR.
- Security: Microsoft 365 virtual data room includes robust security features to protect data from unauthorized access, such as encryption and multi-factor authentication.
- Scalability: Microsoft 365 is a cloud-based service, which means it can be easily scaled up or down to meet the needs of the VDR.
- Customization: Microsoft 365 allows users to customize the VDR to meet their specific needs, such as by setting permissions and access controls or integrating with other systems and applications.
Overall, using a Microsoft virtual data room solution can provide users with a familiar and feature-rich platform for storing and sharing sensitive documents and information.
What is Govern 365?
Govern 365 is a Secure Collaboration and Compliance Platform for your Microsoft 365 environment that helps ensure the right balance of administrative control while providing users with optimal empowerment, without any boundaries.
Virtual Data Rooms (VDR) have long been used in certain industries for sharing and distribution of highly sensitive information. However, this poses certain challenges for companies using them:
- Lack of data sovereignty (data must be stored in their cloud)
- The proliferation of several encryption technologies (DRM)
- Lack of productivity features offered in Microsoft 365
- Requires users to learn a solution-specific interface
Govern 365 helps you create your own Microsoft virtual data room hosted within your M365 tenant and protects sensitive information using the software you already own and love while ensuring data sovereignty. It also leverages the Digital Rights Management (DRM) technology provided by Microsoft Purview.
Govern 365’s Virtual Data Room is lean and affordable, offering the essential protection and encryption features that most customers need without all the feature bloat and expensive pricing of many industry-specific alternatives.
- Let’s you use the software you own and love (SharePoint & Teams)
- Ensures data sovereignty by keeping your data in Microsoft 365
- Eliminates the need for data duplication
- Leverages Microsoft’s global DRM technology / platform
A virtual data room (VDR) is a secure and efficient way to enforce secure data security and document sharing within your business. It allows for easy organization and collaboration and offers robust security measures to protect your information. Choosing a VDR solution for your organization can save time and resources and ensure that your data is handled safely and responsibly. To learn more about how Govern 365 works seamlessly with your existing M365 environment please read our blog on ‘How Govern 365 seamlessly integrates with your Microsoft 365 environment’.