The SecureDocs audit log is an action based record of all user activity in the data room. The audit log, or audit trail, is used by room administrators to track the time, date, and activities of each data room user. Incuding details about who is viewing which documents, how many times they are being viewed, and any other action being taken in the room. With the ability to gain insight into so many facets of data room activity the SecureDocs audit log helps companies work faster and more effectively.
Here are a some of the key ways a SecureDocs audit log helps companies:
Access Investor/Buyer Interest
- Gives insight into which documents investors/buyers downloaded or viewed online, to guide you in next steps.
- Helps to Identify the most interested parties, so you can reject bids from less informed individuals.
- Monitors progress of final due diligence process to limit the risk of extended review.
- Provides a clear record of activity conducted by all users in the event there is a legal dispute.
- Serves as a permanent electronic record of documents accessed and download, providing clear detailed record of access (down to a user's IP address) in the event that sensitive information is taken by an employee to a competitor, or key information is inappropriately used by a potential partner.
- Becomes a critical record to enforce compliance or remediation. Without it, the chances for appropriate response is severely limited.
- HIPPA: The SecureDocs audit log meets the HIPPA requirement for audit controls, and electronic record of user access to digital medical files
- HR Employee I-9 Electronic Storage Requirement: Federal law requires an audit trail and controls to detect and prevent deletions, and alterations. SecureDocs audit trail coupled with view only, no download of HR documents helps keep you compliant
- The audit log is a useful tool for tracking down who made changes to a document name, or moved a document to a wrong folder so guidance can be provided.
- The audit log can also identify who may have deleted files (then can be recovered in deleted file folder) so that corrective action can be taken.
The audit log is just one of many SecureDocs Virtual Data Room features improving the way businesses from across industries work. Learn more about other SecureDocs Virtual Data Room features here.