When it comes to document control, it’s crucial to protect the master file. Not only does a company’s master file leave an audit trail should you need it, but you can also revert to the original document if critical issues with subsequent versions arise.
What can happen to master files? As it turns out, a lot can go wrong, especially when you’re dealing with large mission-critical and protected files. From data corruption to revision errors, numerous actions can corrupt or alter a master file, including documents touched by many hands via different devices.
Here are additional ways that files can be breached and how a virtual data room (VDR) can prevent that from happening.
Master files, as with any text, image, video, or data file, can become corrupt over time. This often happens when something interrupts the file creation process.t When master documents are downloaded and uploaded frequently, it also increases the odds of file corruption because outside activity has interrupted the upload process, such as:
- A spotty internet connection
- Improper shutdown of the device
- Application error
- System failure
The larger the master file, the more likely it will experience corruption over time.
Solution 1: Minimize Access to the Master File
A virtual data room protects your master file by creating a separate version of the document each time it is viewed, uploaded, downloaded or edited. No changes are ever made to the master file, meaning there’s less risk of file corruption. Limiting access to the master file can also reduce this risk.
Solution 2: Store Files in the Cloud
Magnetic hard disk drives and SSL drives can fail due to physical damage and age. In fact, 80% of hard drives last only four years. After that, even the most high-end RAID array is more prone to failure.
Storing files in a virtual data room that uses state-of-the-art encryption technology means your master files won’t fall prey to physical damage.
Cyberattacks and Hackers
If a hacker wants to hurt you, one way is by creating corrupt files within your system. Of course, many cyber thieves want to steal data for malicious use. But others may just seek to waste your company’s time, money and precious resources by damaging, corrupting or deleting files. Master file corruption can also occur as collateral damage while hackers attempt other attacks, including cyber-phishing or denial-of-service.
Solution: Trust a Virtual Data Room to Keep Your Master File Safe
Caplinked virtual data rooms use enterprise-level security and world-class data encryption to protect your master files as well as all subsequent file versions. All data is transmitted via secure HTTPS::// protocols which protect data regardless of the device that’s accessing it. It uses industry-standard block ciphers for encryption during file storage, and when data is transmitted, it remains encrypted via SSL/TLS-encryption endpoints.
Users Can Edit Data Incorrectly on a Master File
Years ago, Microsoft conducted a study that showed 80% of computer errors are actually due to user error, not hardware or software failure. The findings may not be surprising, as many people forget to save a file, make a mistake with data entry, or simply hit the wrong buttons and delete the contents of a document.
When dealing with complex spreadsheets like financial statements, lengthy documents, and highly detailed information, mistakes can easily happen. It’s crucial to preserve your master file to ensure that you can go back to a “clean” document, retrace your steps, and create accurate information.
Solution: Track Changes and Revert to Prior Versions of a File, Including the Master File
Caplinked never edits your master file but, instead, creates a new file version each time someone edits a document. You can track changes with version control, so you can discover who made the error and when it occurred. It’s easy to restore that file version – or go back to the master file – to correct the mistake.
State-of-the-art reporting also enables you to quickly locate prior versions of a file to make the necessary revisions. You can access a detailed audit trail for every file within a Workspace, enabling you to pinpoint where errors were made and, if necessary, alter processes to prevent future mistakes.
Rely on Your Virtual Data Room to Keep Your Master Files Protected
Does your organization have a system to keep master files protected, preserve their data integrity, and ensure user errors can be corrected quickly and efficiently? Caplinked combines secure document storage and management with digital rights management and a host of collaboration tools. Your master files are stored and protected safely in the cloud, enabling members of your organization to access and edit as needed while preserving the master.
Start your free trial today to see the difference a virtual data room can make in your organization’s document storage and management processes.
Dawn Allcot is a full-time freelance writer and content marketing expert specializing in technology, business and finance.