There are papers that receive the label of important and sensitive because they contain information that could have consequences in the event of a security breach, such as personal data, health and wellbeing records or economical transactions. In the past, these documents had to be exchanged physically which required a range of important people ranging from accountants and executives to lawyers as well as internal and external personnel to travel to the same location at the same time in order to look them over. It was a time-consuming, expensive and polluting way to transfer documents that were susceptible to thievery and unauthorised access.

Sharing digital documents is now a part of the everyday business processes. Remote working and B2B purchasing are becoming more web-based. Although this convenience is excellent for productivity, it can also pose significant risks – and most business owners are not aware of the severity of these risks.

Email is not a secure method of sending documents to customers as cybercriminals could intercept emails and use it to steal identities and myhomedataroom.com/how-to-protect-your-documents-during-the-due-diligence-process-and-after-completion/ other nefarious activities. It’s also difficult to track who has viewed or edited documents sent by email.

A secure document exchange is a fantastic method to share files with customers, while keeping track of who has used them and changed them. These tools are designed to be in compliance with various data protection regulations, and they offer a robust digital audit trail which makes it easy to trace any issues back to the source. They also assist businesses to avoid penalties resulting from data breaches that can severely damage their reputation and financial performance.