Handling confidential business records is a serious responsibility. Restricting access to these files to people who need them is the best strategy for preventing unwanted leaks. Any document management system should include procedures for handling and storing protected documents. Here’s how to restrict access to confidential documents in your data room:
Step 1: Choose Who Has Access
Virtual data rooms allow you to upload documents online as you gather them for a potential merger or acquisition. This process makes it easy for other parties to review the files. It allows your business flexibility in assigning permissions to a particular user or group of users. Depending on the level of information you want to give the users, you can specify whether or not a user has permission to print, save, copy-paste, or access the original document.
You can give your users the “view right” or the “download right.” Users with the “view” permission can only see the contents of your confidential folder. They are not permitted to edit the document or save any modifications. The original document can be printed, saved, copied, and pasted by those with the “download” right.
Step 2: Activate Two-factor Authentication (2FA)
Cybersecurity concerns provide a serious challenge for businesses due to the prevalence of online commercial transactions. A key security component of a virtual data room is two-factor authentication. It offers security by requiring the user to submit a unique security code while logging in. This additional security measure protects your documents. You can do two-factor authentication by sending the user a unique code through a text message. You can also do this by email. When you share sensitive documents with users whose level of trust you don’t fully know, this approach assures you of better document protection.
Step 3: Install the Right Management Tool
Using a good management tool, you can grant access to certain people while banning others from sharing documents. The tool’s features will restrict who can access documents and for how long. It is a great approach to make sure that you remember to deny the user access to the documents when they are not permitted to access them. This management tool improves the security of online documents and guards against unwanted access.
Step 4: Train Users on Confidentiality and Access Rights
Ensure your data room facilitator explains access rights and confidentiality to your team. It will be beneficial if all users are made aware of their privacy rights and the various access levels available.
Management should make sure that their staff members obtain the required data privacy training to prevent cybersecurity and data hacking threats. While a data room provides a secure venue for sharing documents, employees should still be cautious if they choose to share information outside of the data room.
If companies provide their workers with the necessary training on how hackers can access personal data, they can spot a threat to data protection. This approach helps to avoid unintentional exposure and security failures.
Facilitators should advise staff members of their rights to access sensitive material during the learning process. Company staff should learn how to use a different login account to access the online storage space for files. This feature reduces the likelihood of hacker breaches.
Step 5: Use Single Sign-on (SSO) Integration
SSO enables users to log into various applications using one set of login details, such as a username and password. Users log in once daily and use one set of credentials, reducing attack surfaces. This process increases enterprise security when the number of login credentials is limited. A single sign-on solution simplifies managing usernames and passwords, benefiting users and administrators. System users only need to remember one complex password to access applications.
Administrators can centrally manage requirements like multi-factor authentication and complex passwords (MFA). Administrators can remove login credentials when a user departs the company.
Keep Your Data Room Safe
A data room is an effective tool for safeguarding your documents. One way it can ensure the safety of your documents is by limiting who can access them and for how long. Adopting a data room in your business can help you grow to greater heights by allowing you to share documents without fear of unauthorized access.
