“John’s business sale is going well, with 4 companies showing strong interest in the data room. Little known to John, one of the companies, a competitor, is happily downloading details of all of John’s senior staff, including contracts and packages.”
“Jane is working on a big transaction, and sees that the firm is expecting record delivery levels next year, the document gives lots of detail. As it happens, Jane’s buddy works in the sector, and would find this information hugely useful. The document can’t be downloaded, but 3 photos later on her personal phone, straight into a WhatsApp message, and no-one’s the wiser… right?”
These sorts of stories still do happen, but of course rarely make the news, because nobody ever finds out!
A good data room will protect your deal in several ways:
- It will let you choose some documents that you want to protect. You don’t want to protect all documents, as bidders often need to bulk download, print and work with docs. But those super sensitive docs, you should be able to make them view only. This may be just 1 doc, or a few folders. Or maybe you protect every document initially, and as you build trust you can relax things to a credible bidder, and let them download instead of just view only.
- When docs are view only, they need a really good watermark, with the users email and IP address on it. Otherwise Jane above will keep snapping away on her phone.
- Combine view only permissions with MFA, and you’ll have to use your corporate token to log in. This adds an extra layer of security and means files are less likely to be accessed by those they shouldn’t be, straight out of the gate.
Projectfuson offers a best in class secure viewer, that works on any device, with no plugins or IT needed – just what you need to protect your next deal.
If you have any questions on security, or would like a demo, get in touch!