Secure Document Sharing for Businesses

By: Subbaram Gowra | Aug 06, 2020

While there are many consumer grade cloud based file sharing services/sites which provide a convenient way to share, edit, and access documents and information, and though most of them come with features like Password protection & SSL Encryption, these tools are necessarily not the right fit for business as they lack features like Two Factor Authentication(2FA), Single Sign-On(SSO), AD Integration, Virtual Data Room, appropriate visibility, security controls, including access control, expiring file access, compliance and e-discovery etc. One must keep in mind the consequences of losing valuable data just in case if the files/data fall into the wrong hands, if employees aren't careful and proper policies are not in place. Once an unauthorized party gains access to your file-sharing service, it's difficult to mitigate what they accessed and just how far your private information has spread, hence it would be wise to consider paying for a service that offers a comprehensive & robust enterprise grade solution.

Enterprises especially those involved in sharing confidential documents pertaining to the M&A due diligence process, Sensitive information related to R&D, processes pertaining to the Quality control (QC) Labs or designs pertaining to pre-production etc. with their employees, clients & contractors have to do a thorough due diligence of their processes, security, regulatory compliance needs, understand the nature of the files, storage capacity etc. before freezing the right enterprise grade secure share file service.

Some common use cases that require businesses to share files securely include financial transactions like mergers and acquisitions, fundraising, IPOs, and other events where companies must send private information to outside parties.

Prospective investors & Board members often insist on being heavily involved with a company’s leadership team and other aspects of the operations sometimes on a daily basis depending on the nature of the engagement. But making such frequent visits by the investors to the investee’s office or by the board members to the office headquarters at least physically is almost impossible while the key personnel are scattered across globe or multiple offices, hence it’s crucial to have a purpose-built “Virtual data room” (VDR) in place that goes above and beyond to provide enhanced and innovative security features which would ensure that the sensitive corporate documents are stored & shared quickly and safely, then granting access to set of legitimate users only as required.

Still, trying to figure out the way?

Here is the check-list of the features that might help you freeze the most optimal “Secure file Sharing” Software:

  • Should support a wide range of file types including Adobe Acrobat Reader,  word documents, slideshows, email, databases, music files (though you'll need a third-party player to stream them) &  videos, etc.
  • Should be able to support features like Link expiration & watermarking that can't be stripped from the document, even support print and screen capture restrictions which should deter users from sharing unauthorized screenshots or photos of documents
  • Should support versioning meaning each time a change is made to document, the tool should automatically create a new version of a document and you should be able to determine the number of versions you want to keep before older versions are moved to the trash folder, etc.
  • A central portal (with custom branding feature that lets you incorporate your company's logo & create your own URL) where you /your legitimate employees can easily share files and collaborate with each other’s & with external parties like contractors, consultants, etc. according to the detailed folder permissions & restrictions such as editing, copy/paste, and change classifications, etc.
  • Should support 256-bit AES encryption (in transit and at rest) over SSL, Two-factor authentication, and single sign-on. The platform should enable the administrator to remotely wipe devices of sensitive data in the event that a device is lost or stolen.
  • Should have a hybrid cloud and local storage solution option which could enable continuous synchronization between local files and online copies so that the changes are also tracked & synched with the redundancy of data so that if one source fails, you still have another source to access your files.
  • Integration with 3rd party applications like Email platforms, eSignature solutions & DMS would further enhance the feasibility. Also make sure the platform supports compliances such as HIPAA, FINRA, SEC, GLBA compliance, and more.
  • The platform should give users a single, secure point of access to all data, regardless of environment or endpoints such as iOS, Android, Mac and Windows-based systems & devices such as Smartphones, Desktops & tablet, etc.

Should be able to review individual login sessions for even greater insight into how your data is being accessed & transferred. Advanced analytics features should give a deep insight on the most active users, most viewed documents, longest viewed documents and recent searches.

Give us a shout, if you are interested in adapting a similar solution for your business?

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