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We can’t overstate the importance of secure document storage. It can decide important outcomes like whether you get a deal done or not, or even if you’ll be facing legal or financial consequences.
With the prevalence of cyber threats and data breaches, businesses and individuals must prioritize data protection. There are severe reputational risks that come with failing to do so.
Using VDRs in DocSend can protect your documents and files. With an intuitive, secure portal for sharing documents, you can also improve your workflow and boost collaboration.
Understanding the importance of secure document storage
The need for secure storage and sharing comes from the growing volume of sensitive information generated and shared in digital spaces. Forms, files, and more can contain valuable data.
Imagine a data breach where financial records, legal documents, intellectual property, or personal data are exposed. Sweating now? The potential consequences of a breach can be quite severe!
Common pain points and challenges faced by organizations looking for data security include:
Uncontrolled access to sensitive documents
Inadequate data encryption and security measures
Lack of compliance with industry regulations and standards
Difficulty in tracking and monitoring document access or sharing
In the worst cases, poorly managing your sensitive documents and other files leads to financial losses, reputational damage, and legal liabilities.
Even the major players are on the hook. For example, the Securities and Exchange Commission (SEC) announced charges against Morgan Stanley for failing to protect their customers’ personal information in 2022—resulting in a $35 million penalty.
Secure document storage addresses the above challenges by doing the following:
Enhancing data security: Secure storage solutions like VDRs employ robust encryption technologies, access controls, and secure sharing features to protect sensitive information from unauthorized access.
Simplifying regulatory compliance: By meeting industry-specific regulations and standards, such as HIPAA, GDPR, and CCPA, secure document storage solutions help businesses avoid hefty fines and legal penalties—without increasing demands on workflow.
Reducing the risk of data breaches: By implementing stringent security measures, secure storage solutions minimize the likelihood of data breaches and unauthorized access to sensitive information, providing greater peace of mind.
Improving operational efficiency: Streamlined document management, efficient organization, and quick file retrieval enhance overall operational efficiency and productivity. This means VDRs help boost collaboration and protect data at the same time.
These benefits also improve workflow and efficiency, helping a business to get things done faster.
Key features of effective document storage platforms
We know why it’s important and what it can bring to the table, but how do you pick one? When selecting a secure document storage solution, businesses should consider the following features:
1. Enhanced security measures
You should look for the following features in a secure platform:
Encryption: Robust encryption algorithms, such as AES-256, ensure that data remains unreadable to unauthorized individuals, even in the event of a security breach.
Access controls: Granular access control allows businesses to specify who can access certain documents and what actions they can perform, such as viewing, downloading, or editing.
Secure sharing: Secure sharing features, such as link-based access and password protection, ensure that files and documents are shared only with their intended recipients.
Check out the video below for more on the advanced security features available in DocSend:
2. Simple collaboration features
Collaborative features that enhance productivity while maintaining security include real-time editing and sharing capabilities. These can bring teams together, especially when working remotely.
This enables productive collaboration among team members, allowing users to simultaneously access, edit, and share documents in real-time—getting the job done quickly but securely.
3. Efficient file organization and search capabilities
Look for the following features in a tool for effective document organization:
Structured file storage: The ability to organize documents in a structured manner, using folders, tags, and metadata to facilitate easy retrieval, is crucial for efficiency.
Standardized naming conventions: Implementing consistent naming conventions ensures quick identification and retrieval of documents.
Powerful search functionalities: Providing advanced search capabilities, including full-text search, metadata search, and filter options, helps with large volumes of files.
The above capabilities will let you locate or use your documents quickly and efficiently—all while maintaining the utmost security.
Examples of using secure document storage at work
Secure document storage solutions offer benefits across various industries and use cases.
Optimizing media and entertainment workflows
In the media and entertainment industry, secure document storage platforms like VDRs allow for the secure sharing of sensitive documents such as scripts, contracts, and NDAs.
DocSend offers advanced features for managing NDAs and confidential agreements securely. See more on how our media sales customers utilize DocSend for the best results.
Improving efficiency and security for non-profits
Non-profit organizations can benefit from secure document storage solutions by efficiently managing documents for donor information, grant applications, and sensitive communications.
DocSend allows the secure sharing of reports and donor documents, ensuring the privacy and confidentiality of data. Check out some real-world stories from non-profits that use DocSend.
Better outcomes for business deals and professional services
For professional services dealing with sensitive information, such as client contracts, project documentation, and compliance documents, secure document storage solutions are essential.
DocSend provides a secure way to review documents, with access control, and audit trails to ensure the confidentiality of sensitive data.
Our Datarum also offer security, tracking, and improved collaboration through Dokumentanalyse, which makes working during transactions and due diligence processes simple.
Make sure you read our blog on“What is a Data Room?” to learn more about what VDRs are and how they work.
Best practices for using secure document storage
To maximize the benefits of secure document storage when using VDRs, organizations should follow these best practices:
Establish clear policies: Implement clear policies and procedures for document handling, access, and sharing to ensure consistent and secure practices across the organization.
Educate employees about security: Conduct regular security awareness training to educate employees about potential security risks and best practices for handling sensitive data.
Monitor and audit document access: Regularly monitor and audit document access to detect any suspicious activities or unauthorized access attempts, adjusting permissions accordingly.
Use strong passwords and access controls: Enforce using strong passwords and implement access controls to restrict access to sensitive documents for certain people or departments.
Keep software up to date: Regularly update software and apply security patches to address new vulnerabilities and protect against emerging threats.
DocSend offers secure document storage using data rooms, which empower businesses to protect their sensitive information effortlessly. Here’s how:
Comprehensive security features
Link-based access: Share documents via secure links that you can customize to restrict access.
Permissions control: Set permissions and add restrictions for each link, including viewing, downloading, or expiry dates.
Password protection: Add an extra layer of security by requiring a password to access the document.
Document tracking
Real-time analytics: Track who views your document with Dokumentanalyse, so you can find out how long they spend on each page, their geographical location, and other details.
Engagement insights: Gain insights into what sections of the document are most engaging to viewers—adjusting your strategy for future work.
Customization and branding
Custom branding: Customize the viewer experience with your company’s branding, including logos and colors.
Custom links: Create and share personalized links for both internal and external use, adding a professional touch.
Integration and collaboration
Integration with other tools: DocSend has many handy integrations to seamlessly integrate with platforms like Gmail, Outlook, Salesforce, Slack, and your other favorites.
Team collaboration: Easily and securely share documents within your team, manage permissions, and collaborate on document reviews.
Document management
Version control: Keep track of different versions of a document and manage updates at a glance.
Centralized storage: Store all your documents in one secure location for easy access and simple file management.
Start a free trial with DocSend
The importance, benefits, and power of document storage are a clear win for many businesses. Explore secure document storage solutions in DocSend and take control of your sensitive data.
Experience the peace of mind that comes with knowing your data is protected. Start a free trial and safeguard your sensitive information with the best secure document storage solution around.
