Speed Up Due Diligence with Secure Data Rooms

October 31, 2022
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Traditionally, companies have resorted to email to share SOC 2 docs and compliance certifications, but once you hit send on an email you’ve lost complete control over where information is stored and who has access to it. On top of that, email is increasingly vulnerable with compromised inboxes, stolen credentials, and phishing exploits on the rise.

We're excited to introduce a more secure approach for companies to share documents and accelerate sales: Data Rooms.

Data Rooms change this dynamic by enabling you to store and share InfoSec documents to pass due diligence without losing control of your sensitive information. Built with flexibility and security in mind, all information, access, and control is retained to reduce exposure to unnecessary risks.  

Want to dive deeper into what a data room is or how you would use it? Learn more below. 

Why are data rooms necessary? 

Traditionally companies have resorted to sending documents via emails and spreadsheets to help fulfill due diligence requirements. Not only is this tedious, but it’s also incredibly insecure. When you send documents out using unsecured channels, you lose control over who has access to your sensitive information. It can also create version control issues and liabilities as you lose sight of who has access to different versions of documents. 

33% of senior executives expect that business email compromises and account takeovers will increase from 2022 to 2023. - PWC 2023 Global Digital Trust Insights Report

What exactly is a data room?

A data room or virtual data room (VDR), is a central location for you to share documents with your clients, partners, and customers for due diligence. Most commonly, you'll use a data room for security documents, patents, certifications, and other sensitive information you want to share with another party but still retain control over. You may want to do this for new clients to support their vendor due diligence process or even existing clients who wish to conduct annual security reviews. 

Data rooms create central sources of information for you to easily add documents and grant your clients to seamless access. This activity is controlled and tracked, so you always know which documents are accessed, when, and by whom. 

Who uses data rooms?

If you've been sending SOC 2 reports over email, or sharing spreadsheets full of security data in a Google Drive, Data Rooms are for you. Data Rooms are used by any company that needs to share documents securely. Companies regularly use data rooms for a variety of purposes, including: 

  • Completing annual due diligence checks to support compliance with certifications like SOC 2 and ISO 27001
  • Proactively providing information to new clients to deflect security questionnaires
  • Securely sharing sensitive information to support other business engagements

Why not use a security questionnaire? 

While some organizations will still require you to complete their security questionnaire, others simply want to review your security documents. Data Rooms are a great way to securely share documents with clients without resorting to a tedious and time-consuming questionnaire. Of course, if you still need to complete a security questionnaire, HyperComply can help you complete it 12X faster

How do HyperComply Data Rooms work? 

We are excited to offer early access to Data Rooms, with many additional features (including NDA gating) coming soon. Existing and new HyperComply Respond customers can get started today with the following benefits.

HyperComply Data Rooms

Send A Data Room In Minutes

Pull from your existing document library in HyperComply or drag-and-drop new files to quickly and easily set up a tailored data room. You can also upload private files to a data room to keep confidential files restricted. 

Track Room Engagement

Always know when your client has viewed or downloaded files in your Data Room.

Version Control Made Easy

Add, auto-expire and delete documents as needed to maintain a central source of truth for your security information and reduce your liabilities. 

Seamless Sharing + Security

Today’s companies require speed, but it shouldn’t be at the expense of exposing the organization to risks. Data Rooms are the quickest and easiest way to securely share sensitive documents with recipients - while maintaining control of your information. Contact us to start sharing documents securely today.