Life science companies have always walked a delicate balance. Their purpose is often to research and develop products for the greater good, yet they also need to protect their intellectual property so that the company can be profitable enough to continue its work.
That means understanding the need for both collaboration and security. A secure virtual data room can be a helpful tool to more efficiently accomplish both goals.
Collaboration With an R&D Data Room
Sometimes it’s difficult to get all the best minds in one room—and even those minds sometimes have their best ideas outside the lab. Then there’s the ever-growing amount of data that companies have to sort through and the number of people involved in that process.
A secure virtual data room allows remote access to sensitive information without compromising its security. It allows multiple users to find and share information from multiple locations. User-based permissions make it easy to share specific documents with designated colleagues and to rescind that permission when its no longer needed.
An R&D data room can simplify internal quality reviews and laboratory audits by offering a central location for all critical information at a life sciences company, increasing efficiency and saving time and money.
And it can aid in meeting stringent regulatory compliance requirements, which tend to lengthen R&D approval times, by making it easy and efficient for reviewers to access the data they need.
All without compromising security.
Security With an R&D Data Room
Secure virtual data rooms offer a high level of security against unauthorized access with 256-bit encryption—the same level of encryption used by The National Security Agency (NSA). This is critical for protecting the type of highly confidential information and intellectual property at life science companies.
Multiple factor verification and permission-based access to R&D data rooms ensure only those who are meant to access files ever see them. Account administers can set permission levels for each individual user per document, controlling not only which files they see but what they can do with them. Users can be allowed to see but not download or print a file, download but not upload or replace a file, or they can be given full permission, based on their role within the company.
And audit logs track who actually accesses data, when they do so, and how long they spend reviewing it, providing peace of mind and regulatory compliance confirmation that no one is reviewing information without permission.
Together, the collaborative aspects and the security features of a secure virtual data room make it easier than ever for a life sciences firm to enable secure collaboration among internal staff and external partners when necessary while protecting proprietary intellectual property.
Other Uses For An R&D Data Room
An R&D data room isn’t actually limited to research and development. A secure virtual data room can be useful for many other purposes within a life sciences company, some of which include:
-Sharing Information with Investors
What other uses can you think of for a safe yet collaborative file storage system for your life sciences company? Let us know in the comments.