Virtual deal rooms have brought numerous benefits to business organizations. By using them, it’s much easier to negotiate important deals, prepare for litigation, and complete various document-heavy tasks. Consequently, security is one of the key requirements for data rooms.
Why is it important to control accessibility?
Because VDRs are primarily used to store and share sensitive information, proper setup is important. According to a study conducted by Varonis, 57% of modern companies have about 1,000 ‘sensitive folders’ with inconsistent permissions, and only 3% of businesses have their folders protected.
Experts say that permission mistakes are very common — giving access to users who shouldn’t be authorized to view specific files. Eventually, it may result in hacker attacks and dangerous data leakages. Hence, it’s vital to pay special attention to access and permissions settings to protect your business materials.
4 tips for access permissions
Before setting things up, ask yourself the following questions:
- Which documents can be fully accessed by all groups from the get-go?
- Which documents are you going to release later?
- Which documents must be accessed by particular individuals only?
Once you’ve grasped the answers, follow the four steps below to set up your user permissions.
1. Implement an RBAC system
RBAC, or role-based access control, provides users access to files based on their position within a company.
RBAC analyzes the needs of each individual in your organization according to their job duties and then assigns data access accordingly. Some business owners don’t like RBAC because considering everyone’s role sounds intimidating and time-consuming for them. But in fact, it’s much simpler than it may seem.
Experts say that a properly implemented RBAC system makes the assignment of access rights systematic, which is very important for security. What’s more, it becomes almost effortless to regularly audit user rights and fix issues.
2. Conduct audits
Sometimes, authorized users share important data with people outside the organizations, which results in serious negative consequences.
To prevent data exfiltration, make use of audit logs and sharing controls to know who exactly viewed, edited, or shared a particular file. It’s important to check reports showing every user and file activity in the virtual data room as it helps to prevent unauthorized document exportation.
3. Use a ‘four eyes’ policy
This approach means that every permission change must be reviewed and approved by at least one other person. If any alterations are approved by another team member or business partner, the risk of an error decreases. To prevent any changes from going live without confirmation, set a ‘lock’ tab in your VDR.
4. Educate your staff
Studies found that nearly 81% of data breaches occur due to social engineering — a complex hacking tactic focused on human manipulations. By communicating with your staff, hackers can get access to login data or even physical structures like servers.
So-called social engineers barge into organizations after receiving passwords or codes from a trusted employee. In fact, users voluntarily hand over their credentials to hackers because of a lack of knowledge on security. To defend an organization from such attacks, managers should make education on social engineering an integral element of an employee’s security training. As a result, teams will know how to recognize an attempt to steal access data.
An extra tip: Consult with your support team
During the deal process via a VDR, you should always stay in touch with your project manager and customer service team since nobody knows their way around a data room better. They can prepare permissions for your approval and free up your time. With support from other specialists, you can focus on your key responsibilities.
iDeals example of the best access permission in data rooms
iDeals virtual data rooms allow you to use access permission capabilities to the fullest. Their advanced technology of granular document permissions makes it possible to specify detailed policies for each file and folder in the data room.
On top of that, iDeals enable eight levels of permissions, such as View, Fence View, Download Encrypted PDF, Download PDF, Download Original, Print, and Upload. All of them work based on the group level, but full administrators of a data room can modify the permissions anytime. This allows for flexible and smooth permission control.
Access permission controls are crucial to securely store sensitive data and allow team members to complete the tasks they’re assigned in a data room. To avoid potential information leakage, businesses must strategically set access permissions in their VDRs. Hopefully, this article helped you understand key considerations behind those settings — and now you know how to set them up on your own.