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A virtual data room is a complex system consisting of a large number of components of varying degrees of autonomy, which are interconnected and exchange data.

Who and Why Uses Virtual Data Rooms?

So what are you using a virtual data room for? It is common to find individuals and businesses involved in electronic data discovery, M&A (mergers and acquisitions), and venture capital (venture capital) using virtual data rooms to collect all their data and files in one place for viewing, archiving, and legal purposes … Some people also call this a “meeting room”. In addition, virtual data rooms are also often used by board members of large enterprises to collaborate in a secure environment.

Intentional threats in virtual data rooms are associated with the deliberate actions of the offender. The offender can be an employee, visitor, competitor, mercenary, etc. The offender’s actions can be caused by various motives: the employee’s dissatisfaction with his career, a purely material interest (bribe), curiosity, competition, the desire to assert himself at any cost, etc.

Information processing facilities supporting VDR critical and vulnerable resources should be located in secure areas:

1. Such means are servers, backbone telecommunication equipment, telephone exchanges, cross panels, equipment for processing and storing confidential information.
2. Protected areas should be provided with appropriate access controls to ensure that only authorized personnel can access them.
3. It is forbidden to receive visitors on the premises when the processing of information of limited access is carried out. For storage of office documents and machine carriers with protected information, the premises are equipped with safes, metal cabinets, or lockers.

The Cost of Virtual Data Room

There are different prices for VDR. It allows you to track the stages of movement of applications and those responsible for using kanban. Each client has a card with all contact information and history of interaction, also through the card, you can create employee chats and make calls to customers. The system has the ability to integrate mail services, which allows you to save history in the client’s card, as well as organize correspondence in the system itself.

All information resources to be protected must be classified according to the importance and degree of access. The classification of information must be documented and approved by the management of the Institution. Classification of information should be carried out by the owner of the resource storing or processing information to determine the category of the resource. The classification should be reviewed periodically to maintain its relevance to the category of the resource.

Most data room systems establish specific sets of privileges to perform specified functions. Each user gets his own set of privileges: regular users – minimum, administrators – maximum. Unauthorized seizure of privileges, for example through a “masquerade”, leads to the possibility of an attacker performing certain actions bypassing the security system. It should be noted that illegal seizure of privileges is possible either in the presence of errors in the security system, or due to the administrator’s negligence in managing the system and assigning privileges.

Interception of passwords is carried out by specially developed programs. When a legitimate user tries to enter the system, the interceptor simulates on the display screen the username and password, which are immediately sent to the owner of the interceptor, after which an error message is displayed on the screen and control are returned to the operating system. The user assumes they made a mistake when entering the password. He repeats the input and gains access to the system.

For companies with hundreds or thousands of customers, using applied information deal closing systems is especially important.

Security Policy as an Important Deal Closing Tips

The main document regulating the security of the object of informatization is the information security policy. An information security policy is a set of rules, procedures, practices, and guidelines in the field of information security used by an organization in its activities. First of all, the policy is necessary in order to convey the goals and objectives of the company’s information security. It is necessary to understand that a security officer is not only a tool for investigating the facts of data leaks but also an assistant in minimizing the company’s risks.

When users use global servers (such as data rooms), it can affect the functionality of the geolocation-based services because requests to the authorization server are made from global servers. In the absence of the actual location of the original client, VDR responses can even invalidate services. Onsite solutions are adding more and more features, but hosting solutions may lack some critical capabilities. Therefore, it is necessary to check the presence of such important functions as synchronization, or fewer priority elements.

The object of security policy – a set of information resources, means, and information processing systems used in accordance with given information technology, as well as means of their support, premises, or objects (buildings, structures, technical means) in which these means and systems are installed, or premises and objects intended for conducting confidential negotiations.

On the information security market, many separate engineering and hardware, software and hardware are offered, cryptographic information shields, you can find a description of methods and means based on them, theoretical models of protection. However, in order to create conditions for effective protection of information at the enterprise, it is necessary to combine separate means of protection into a system. It should be remembered that the main element of this system is the person. Moreover, a person is a key element of the system and at the same time a difficult and potentially weak link in it.

So, the tasks that an enterprise can solve enterprise by implementing deal closing systems:

• Retaining and increasing customer loyalty by providing the customer with the best quality service.
• Increase sales through a deeper understanding of customer needs.
• Improving the effectiveness of marketing activities due to their more accurate planning and subsequent evaluation.
• Reducing the risk of customer withdrawal along with the dismissal of an employee.

Top 5 Tips for Deal Closing from Client Services

In accordance with the specified standard, it is necessary that the information security policy of the enterprise at least includes: the definition of information security, its general goals, and scope, as well as the disclosure of the importance of security as a tool that provides the ability to share information, a statement of the goals and principles of information security formulated by management a summary of the organization’s most significant security policies, principles, rules and requirements, such as:

• compliance with legal requirements and contractual obligations;
• safety training requirements; prevention and detection of viruses and other malicious software;
• business continuity management;
• responsibility for violations of security policy;
• defining general and specific responsibilities of employees within the framework of information security management, including reporting information security incidents; references to documents that complement the information security policy, for example, more detailed policies and procedures for specific information systems, as well as security rules to be followed by users.

In a broad sense, a data room is a combination of technical, software, and organizational support, as well as personnel, designed to provide the right people with the right information in a timely manner.

What Can We Say About the Data Room?

We can say that a virtual data room is a kind of extranet, so it is not public and does not only work within your own company, as it does on an intranet. The use of virtual data rooms is primarily for management and compliance purposes, not to improve the user experience.

The main goal of working with the data room is to achieve maximum protection efficiency through the simultaneous use of all the necessary resources, methods, and means that exclude unauthorized access to protected information and ensure the physical safety of its carriers. It refers to systems of the organizational-technological (socio-technical) type, since the general organization of protection and the solution of a significant part of the tasks is carried out by people (organizational component), and information protection is carried out in parallel with the technological processes of its processing (technological component).

A serious incentive for conducting promising research in the field of data room is the constantly growing quantitative and qualitative changes in the field of informatization that have taken place recently and which, of course, must be taken into account in the concepts of information security. The importance of developing guidance on disposing of assets to address unforeseen problems, even if it is only one transaction, is demonstrated by the correlation between those companies that have such leadership and those that are successfully growing in value.

The ability to get, save and process the complete history of the client’s interaction with the company gives a lot of advantages. A company can apply a variety of analysis methods to gain knowledge from data, in particular, predict what the client might want in the future. And here, for the analysis of consumer demand, the data obtained by visiting the corporate website are also actively used.

Another area in which information security can help in a crisis is the protection of company assets. It is no secret that upon dismissal, some employees may try to harm their employer by trying to disable any infrastructure elements, introducing malicious software bookmarks, or stealing important and confidential information. However, regardless of the goals and characteristics, the electronic resource not only provides the necessary information to users but also allows its owners to get just a colossal amount of information.

What Are the Main Functions of a Data Room?

The main functions of the data room are:

• The largest cloud data storage facility allows users to store their data on servers in the cloud and share it with other users on the Internet.

• The service makes it possible to use documents from all computers, phones, or tablets, edit documents, automatically upload photos, and share videos from anywhere.
• Upload files for public access through the “Public” folder, which allows you to use the service as a file sharing service.
• Ease of use – the ability to start a scheduled meeting with one click (or one click of a button) with guaranteed access for all participants.
• Services of a virtual meeting room with access to an individual bridge for conference calls at any time. This eliminates the problem of bridging conflicts when using shared user codes.
• Compatibility types are available for remote video endpoints that provide connectivity to a wide variety of users and terminal devices.