Depending on the data storage technologies, there are many methods for working with electronic documents. Virtual data room is gaining increasing popularity and has very attractive development prospects. Therefore, protecting information stored in the cloud is more relevant than ever. So, what are the opportunities?
Virtual data room as a response to the challenges of reality
Now we are experiencing a renaissance of information security technologies because their relevance is higher than ever. Protecting sensitive data is becoming as high a priority for organizations as the quality and functionality of their services. The fact of data leakage can become a powerful argument in favor of abandoning the company’s products. Pay attention to how services are changing: banking applications offer free protection against scam calls, and household financial accounting programs offer a complex authentication system.
It is partly due to the COVID-19 pandemic. So, what are the main reasons for these changes?
- First, many companies had to go online to save their business. Most of these companies – small and medium-sized enterprises with no information security specialists – became easy targets for cybercriminals.
- Secondly, companies have switched to remote work. Work systems that could previously be easily controlled at the office perimeter have been distributed to employees’ home computers. To ensure security, it was necessary to configure the virtual desktop infrastructure correctly, and here it was impossible to do without virtual data room software.
- Thirdly, the stressful state of the market has led to more intense competition. Massive DDoS attacks, which are now an order of magnitude cheaper than marketing wars, have become a tool of competition.
The introduction of virtual data room software (VDR) allows you to acquire great flexibility in processing and storing business-critical information. However, at the same time, VDR introduces new risks, and the lack of protection will inevitably lead to new privacy threats. According to https://www.europeanbusinessreview.com/4-steps-for-conducting-an-effective-data-room-due-diligence/, the basic element of any data room is a document; inside the system, it can be a file, or it can be a record in a database. Speaking of secure workflow, they often mean the protection of documents, the protection of the information they carry. In this case, everything comes down to the already banal task of protecting data from unauthorized access.
New trends in data room protection policy
An integrated approach is required to protect the data room, which implies protection at all levels of the software. Starting from protecting physical storage media and data on them and ending with organizational measures. So, every data room software should provide a mechanism for protecting against its main threats: ensuring the safety of documents, secure access, the authenticity of documents, and logging user actions, as this software is widely used in business transactions. Moreover, there are new emerging trends in using virtual data rooms, which are manifested in more security features:
- The differentiation of user rights
Authentication is the process of establishing the user’s identity and confirming the user’s legitimacy for a particular action or information. It is understood as the complex of activities carried out at the user’s entry into the system and constantly during further work.
- Data encryption
Cryptographic data protection methods have a huge advantage for the confidentiality of information. Their use will allow them not to violate the document’s confidentiality, even if it falls into the hands of a third party.
- Electronic signature
Today, the main and practically the only solution offered on the market for ensuring the authenticity of a document is an electronic signature. The basic principle of EDS operation is based on encryption technologies with an asymmetric key.