A data room is a secure place for the exchange of confidential documents. Most common uses are in the interdisciplinary project management, lawyer and client communications, or due diligence processes. The virtual alternative to a locked data safe gives all the advantages of a modern communications platform and is fully compliant with the laws governing data protection.
In Germany Virtual data rooms are used for various business transactions that are confidential. This includes mergers and acquisitions real estate transactions, investment projects, due diligence, etc.
The use of a virtual data space ensures that sensitive information is only accessible to sanctioned users. This increases trust and security during the course of project work. Data rooms also allow for greater efficiency in collaboration, which accelerates the decision-making process.
The idgard Virtual Data Room is ideal for secure collaborations with outside partners such as lawyers or clients, or for sharing of information with internal teams. It's also a fantastic tool for effective board communications. The data room is easy to create and maintain. The data is secured from unauthorized access using strong encryption and passwords.
The German virtual data room provider netfiles GmbH has been audited successfully in conformity with the internationally recognized SOC standard which is a must for companies that want to comply with GDPR. The solution is a part of the initiative Cloud Services Made in Germany, and adheres to strict EU privacy regulations. The data centers of the company are located in Berlin, Frankfurt, and Munich. They provide lightning-fast speed and airtight safety.