Papers are labelled as important and sensitive in the event that they contain information that could be a source of concern in the event of security breaches such health records, personal information or financial transactions. In the past, these documents needed to be exchanged via physical methods, requiring several key players — from accountants and executives to lawyers and even internal and external employees to be in the same place at the same time to review them. This was expensive, time-consuming and a polluting method of sending documents that myhomedataroom.com/top-data-room-providers-in-the-uk/ were prone to unauthorized access and theft.
With remote working growing and B2B purchasing becoming increasingly online-based sharing digital documents has become a crucial element of business processes. But while this convenience is beneficial for productivity, it comes with significant risks. Sadly, most business owners aren’t aware of the extent of the risks.
Cybercriminals can intercept emails, and use the data to carry out identity theft and malicious activities. It’s also hard to track who has viewed or edited documents that were sent via email.
Secure document exchange is an excellent method to share files with customers while keeping track of who has visited them and modified them. These tools are designed to be in compliance with various data protection laws, and they offer an audit trail that is robust and digital that makes it simple to trace any potential issues back to the source. They also aid businesses in avoiding the penalties that come with data breaches, which can seriously harm their reputation as well as their financial viability.
