August 30, 2012
On Thursday August 30th, V-Rooms™ announced that it has released version 5.0 of its virtual data room software-as-a-service program, permitting certification and compliance with several U.S. Federal and European Union regulations.
“ V-Rooms™ has been dynamically successful over the last few years by putting users and their security needs first,” said Dan Bradbary, CEO of V-Rooms™. “The changes in version 5.0 continue our commitment to providing the best virtual data rooms at affordable prices.”
V-Rooms™ security has been improved with a password policy management tool that allows room administrators to set unique, complicated password rules for their organization. Virtual data room administrators can now establish password change requirements, set the number of invalid login attempts allowed by a user, and set rules for password complexity.
The User Interface has been improved and simplified, increasing usability while retaining the ability for clients to customize the look and feel around their branding. The modern look is minimalistic and has an increased ease of use.
During this update, V-Rooms™ expanded its regulatory and compliance reach by achieving European Union Safe Harbor status, CFR 21 FDA Part 11 Validation, and SEC Rule 17g-5 Validation in addition to the existing SSAE 16 Type II Certification of our Data Center.
Safe Harbor is a designation for U.S. based organizations that have met the standards for adequate protection of personal data as required by the European Union’s Directive on Data Protection.
V-Rooms™ virtual data rooms meet the FDA’s new requirements in CFR 21 Part 11 for products that employ procedures and controls designed to ensure the authenticity and confidentiality of electronic records for human drug clinical trials. This includes the validation that our system ensures accurate and reliable performance and has the ability to discern invalid or altered records.
V-Rooms™ also has achieved SEC Rule 17g-5 Validation. This SEC rule change requires Nationally Recognized Statistical Rating Organizations (NRSRO) to maintain a password-protected website for information made available to both hired agencies and unhired agencies in an effort to create transparency for the investing public. V-Rooms™ Virtual Data Rooms is fully compliant with all stipulations of this rule.
SSAE 16 is a new enhancement to the current standard, SAS 70, for Reporting on Controls at a Service Organization. V-Rooms™ is compliant with the new international service organization reporting standards.
“Security and regulatory compliance are two very important aspects of a virtual data room, and we have taken several new steps to ensure our data rooms continue to meet the highest available standards. We’ve focused heavily on those improvements, which allowed us to achieve Safe Harbor status as well as compliance with two new pieces of federal regulation: CFR 21 Part 11 and SEC Rule 17g-5, while continuing our data center security focus with SSAE 16 Type II Certification. Finally, our user interface received a facelift and looks better than ever. These changes will help ensure a high quality, secure system that is simple to navigate and customize,” said Karen Perkins, President of V-Rooms™.
V-Rooms™ provides a cloud-based, customizable virtual data room (VDR) solution that is designed to streamline document management, collaboration, exchange and archiving for financial, legal and corporate professionals. The V-Rooms™ Software-As-A-Service (SAAS) secure document portal facilitates the secure exchange of sensitive information providing compliant and auditable transactions. V-Rooms™ enables the acceleration of complex, information-intensive processes while reducing the time and expenses associated with data distribution, courier, printing and travel. Additional information can be found at http://www.V-Rooms.com.