Statistics show that the majority of data produced today is transactional, which means that it is generated by financial institutions or businesses involving buyers and suppliers. Unfortunately, this type of data is often at risk of being leaked.
Nearly 5 million data records are stolen by cyber thieves every day, which leads to huge revenue losses. Therefore, safe document exchange is one of the key priorities for any business. To enhance this process, most organizations turn to agencies providing IT security software, like DataSite.
In fact, DataSite is one of the leading SaaS providers for the M&A industry. In fact, it ensures secure content sharing between deal makers and facilitates digital rights management at each stage of the deal lifecycle.
What is digital rights management?
Digital rights management (DRM) is a set of measures taken to control digital copies and prevent them from being shared. DRM tools restrict the use, modification, and distribution of copyrighted works and systems.
In the United States, laws criminalize the production and dissemination of materials protected by copyright. However, digitalization has enabled almost cost-free reproduction and large-scale distribution of open information. This explains why digital rights management is on the rise.
DRM problems in virtual data rooms
Most business deals require a large number of files that must be distributed between deal makers. Typically, various team members login into the system, download and organize documents to review them on their desktop. However, a few problems arise in such cases.
Let’s illustrate some of the most common issues with sharing sensitive content.
- First, some data rooms enable copying sensitive content from files. Because reviewers know that their time to work with the files is limited by administrators, they often make a copy of materials. Sometimes, they even print it for their convenience, which leads to negative consequences for document owners.
- Second, some data room providers don’t update security patches, so may lack the latest enhancements for each file type. Therefore, it’s impossible to ensure that DRM protections can persist on downloaded content. Hence, users either bypass the intended securities or can’t access the content because of software bugs.
Thus, the question is, “How to maintain effective access controls over corporate files”’ You can find the answer below.
DataSite’s solutions for DRM issues
IT experts have embedded up-to-the-minute DRM technology into DataSite Diligence, so its users can better manage their documents, enjoying the following benefits:
- vendors can benefit from accelerated due diligence. DataSite’s platform is very user-friendly, which allows administrators to easily control access to sensitive information and be sure that all digital assets are safe.
- Rich data room functionalities allow deal makers to work with various file types, regardless of how they are opened. Reviewers get quick and flexible access to the information they require without the need for a plugin or any other tool.
- Best of all, document sharing features ensure that the content cannot be copied from files.
DataSite offers efficient tools for deal execution. Its technology allows organizations in more than 170 countries to manage their most sensitive information.
DataSite products can be a great solution for companies that need a secure digital rights management system for thorough due diligence.