Virtual Data Room Reviews – Best Comparison of Deal Rooms in 2017
Firmex Data Room
Virtual Data Rooms
What is a Data Room?
In an age where information could be powerful and perhaps destructive especially when in the hands of certain unscrupulous individuals, protecting your precious data is important. Anyone looking to ensure key information is accessible only to specific individuals would find a data room valuable. The transition from a dependency on hard copies to a virtual realm has commenced for a long time now. More companies are beginning to rely on their computer for all the documents they hold essential. With the increase in companies with a huge reliance on computer-based information comes a corresponding increase in hackers and the occurrence of data theft. Data rooms are meant to hold information and also secure such information against as any unauthorized view. They are more like spaces laden with information all of which is accessible to only a privileged few. Sometimes, they could provide a firm the opportunity to store vital information perhaps for future use. Data room varies in types such as the apparent data rooms located on a property and the virtual data rooms which are web based. The importance of a data room cannot be overemphasized. Information storage, data sharing, collaborations and mega deals are some of the many benefits of a data room. In a situation where financial transactions and document scrutiny are carried out at the same time typical of an M&A, securing the room against loss of information to individuals capable of manipulating such information for their gains remains vital. Aside from the level of secrecy in which M&As are shrouded which is perhaps for trade reasons, data protection is also engaged against any form of hijacking. This often necessitates the presence of experts all through the entire process of the merger. The side-effect of this type of data room use is the running cost which could be quite high. A better alternative is the virtual data room which eliminates such excesses since the data scrutiny is done on the web. It also reduces the onerous processes typical of an M&A. The URL of a virtual data room is given to the parties involved with all the necessary logistics tended. Data protection parameters are applied to avoid any possible disclosure of the information without the consent of the administrator(s).
Who Uses Virtual Data Rooms?
Any company with sensitive information would find a virtual data room indispensable. Usually, transactions which could affect the status of a firm in the stock market are considered vital. This means most companies are obliged to use the services of a virtual room. While there are times when the need for a data room is at its peak, there are certain sectors of the economy which depend on virtual rooms for improved ease of operations. Financial companies, stock broking firms, budding businesses, banks and several others are the major clients of virtual data room providers. The use of the services of a virtual data room prevents loss of data and unauthorized access to sensitive information of these companies.
Top Virtual Room Providers
Just like every service rendered, there exist no monopoly over the control of the virtual data room realm. There are different virtual room providers and what makes their services stand out. The objective of this article is to provide you with an outline of the most efficient virtual data room providers and the services they render.
Firmex stands as one of the recognized virtual data room providers in the industry. In 2006, when the business world was struggling with the use of the physical data room service, Firmex started out as a small VR firm with a few clients from corporate bodies and law firms who believed in their ability. Today, their clientele which are in their thousands are drawn from diverse sectors including the banking, health, and law.
Firmex services are a mix of innovation and efficient pricing. Their services make data storage and access easy and convenient. Their security protocols ensure unauthorized access to documents regardless of the status of the individual. Their biometric safeguards ensure the safety of your information within the data locations. Application of watermarks and tracking user access are some of the impressive features of this virtual room provider. The ability to terminate user access to a document regardless of the location of the said documents is laudable. Limiting avenues of data dissemination such as saving documents and the possible printing of such documents are also feasible with this virtual room provider. The two-factor password authentication restricts access to only authorized users only. They are compliant with the necessary data regulations around the world. Organizing a virtual data room is an essential step towards improving the accessibility of the document. Firmex ensures a client can control the positioning of documents in the virtual data room through the use of the Versioning feature. It’s important the means of importing information into a virtual data are easy and convenient. Firmex seems aware of that with their Email In feature which enables a user upload information with ease via email. User invitation into a data room is paramount for an efficient transaction in a virtual data room. This virtual provider allows you add users conveniently without problems. You can also review the appearance of your security parameters with the View As setting. The Firmex Virtual Data Room app for iOS users allows convenient access to the content of the virtual data room regardless of your location.
The cost of using a virtual data room service can be confusing and mysterious but not Firmexs. Their pricing model is all-encompassing without the need to worry about additional charges. With Firmex, you get no limits to the number of participants, an unlimited number of projects and a defined cost for all services rendered.
Intralinks is one of the virtual data room providers with immense experience of how the industry works. They have over 20 years experience which certainly works for them when you consider the companies which make up their clientele. Their deal ratio is impressive with trillions of dollars transacted through their data room service. Gartner ranks Intralinks number one among collaboration and social software which is perhaps more about their collaboration services. Intralinks comes highly reputable which doesn’t come as a surprise considering the volumes of transactions recorded. Apparently, Intralinks offers more than the services of a virtual room provider. Intralink as a virtual data room provider is biased towards heavier transactions, and their fees are a bit higher compared to similar virtual data room providers. Users can upload a large amount of information easily from every platform such as the computer and mobile phones or tablet. Access authorization to documents in the virtual data room is easy and seamless. You get streamlined information dissemination with users through the Q&A approach of the Intralinks virtual data room. Using the self-launch data rooms, you can add users and documents, organize the data room to your specification. There are no restrictions on devices you can use to access an Intralinks virtual data room with the Intralinks apps for all platforms. You can safeguard your documents against unauthorized access and distribution.
iDeals can be considered an entry level virtual data room provider. It has garnered recognition for its effective virtual data room services. Their clientele consists of industry experts from the health sector, law, investment banking and so many others. Their virtual data room offers features which might have endeared them to their numerous clients. The ease of utilizing the virtual data room is commendable. iDeals claims you can commence using the virtual data room in 15 minutes. Importing documents with this virtual data room is uncomplicated. You can invite users to the virtual data room quickly eliminating the time wastage. Security parameters such as data encryption and unique watermarks prevent unauthorized use of documents. iDeals VDR allow you observe proceedings in the virtual data room with the graphics report feature. With the Nine language options users from different regions can communicate without problems. The data centers of iDeals Virtual data rooms are located in different regions ensuring you can utilize the VDR without difficulty. Unauthorized camera copying of the details of a document is prevented with the fence view approach. The 2-step verification process delivers adequate protected against infiltrators. Perhaps, the standout feature is you can observe the activities of users including the exact document each user looked at and the time the user spent on the document. Throughout the entire project, the iDeals support service 24 hours a day and 7 days a week availability ensures you adequately tended. They claim you don’t need to be information technology inclined to use their virtual data room effectively since you will be guided accordingly. Their virtual data room allows you upload a large amount of data without any problems. iDeals provide three plans which cover every category of individuals.
Merrill is a reputable company. This virtual data room provider has decades of experience in information technology. Merrill has a large clientele distribution investment banking, law and a host of others. Their fees are on the high side when compared to other virtual data room providers. This isn’t far-fetched considering they a household name wherever big mergers and acquisitions are being discussed. Their virtual data room offers no limits to the number of users. Security parameters such as encryptions, two-factor password authentications and watermarks are familiar features of this virtual data room. The real-time visibility feature allows you observe the activities of participants in the virtual data room. The quick search option called the optical character recognition allows users find documents and perhaps the exact details the user seeks. You can also customize questions for different users in a virtual data room. You can control who sees what and at what time the document was viewed. Their customer service is commendable, and they offer round the clock support. The document expiry feature ensures documents downloaded without authorization inaccessible. They also deliver data backup services which allow you save valuable information against any possible security breach. Merrill remains a viable virtual data room provider though the cost limits its use to companies with a high revenue base.
Headquartered in Chicago, United States, RR Donnelley was founded in 1865. They started out as a printing company. Though they have tentacles in many industries from graphics design and printing to communication, they commenced operation as a virtual data room provider in 2008 with the launch of the Venue virtual data room. They have numerous clients not just for their communications services but also for their virtual data room services. Facebook, Goldman Sachs, NASDAQ, and the Walt Disney Company are some previous clients of RR Donnelley virtual data room platform, Venue. Venue data room is easy to use. It can be accessed from any platform, mobile or computer device. Personalizing the data room doesn’t require much input which gives you the time you need to focus on what counts. The general arrangement of the platform gives users a sense of professionalism which inspires certainly confidence. You also manage user access to documents uploaded. Venue incorporates Google search into their platform which bridges the gap between users and the information they need to make their deals or transactions a success. Security features like watermarking, protective software to avoid unauthorized use of documents. The 256-bit encryption provided by Venue prevents data loss should be of immense benefits when uploading highly sensitive information.
Sharefile is a cloud-based virtual data room incorporated in 2005 with Jesse Lipson. Their clientele consists of companies from different industries. By 2011, Sharefile had grown in customer base and revenue base. Sharefile was listed among the 500 fastest growing companies in world according to Inc. Citrix System saw the potentials of Sharefile and the management of both companies went through a merger phase. The aftermath was a change in management of Sharefile. Jesse Lipson was offered an administrative position on the board. Sharefile continued to record immense improvement in all spheres under its parent company Citrix.
Like most virtual data rooms, Sharefile has features which have endeared it to users. You can easily synchronize data between your storage and the virtual data room. It has a user-friendly interface improving ease of use of the virtual data room. You can upload unlimited amount of documents using the platform, and there are no pegs on the number of users. Security features such as watermarks and click trials prevent unauthorized use and access to the documents. Sharefile uses a fixed pricing model which ensures you don’t get any hidden charges. Inviting users is easy which is important for a virtual data room. The full-text search feature allows users find information they seek in documents without having to go over the entire text. You can personalize questions for different groups in your data room. Email alerts ensure you receive notifications once a user views a document of folder. The email alerts also notify users when you upload a new document. Sharefile claims it has a 99.9% uptime which means the odds of the virtual data room been unreachable are highly unlikely. Sharefiles has a decent reputation among entrepreneurs, but huge conglomerates might find the virtual data room insufficient.
Ansarada began operating as a virtual data room provider in 2005 in Sydney, Australia. However, their services are particularly aimed at assisting businesses with mergers and acquisitions, IPOs and similar transactions. Their clients consist of reputable firms such as Barclays Bank, JP Morgan, Citi Bank and a host of others. Using the virtual data room is easy. You can upload documents regardless of their size and download same with ease. Businesses with other needs such as data exchange or storage wouldn’t find the services of Ansarada as beneficial especially when compared to those interested in mergers and acquisitions. You can set user permissions as you like deciding who sees what document and who downloads what. Adding users is uncomplicated with the Ansarada data room which eliminates time wastage on inconsequential issues. You also get to observe the activities of users added to a data room which gives you insight on the next line of action in a financial transaction. Timeout settings allow you decide how long a user stays inactive before the timeout notification comes on. All documents are serially ordered as you upload them allowing you keep track of each document. Questions and Answers make mergers go smoothly, and Ansarada understands that with their personalized question and answer section. The full-text search feature of their data room allows users locate documents and find very important sentences in such documents. Should you allow users download documents, the bulk action feature ensure download of large documents should be rather straight forward. History changes ensure no change to a document goes unnoticed. You also know the exact time such changes were made. You also get to observe user activities with the document downloaded eliminating the worries that come when such confidential documents are downloaded. Notifications ensure you don’t miss out on uploaded documents. Security features like watermarks, encryptions and a 2-step authentication prevent unauthorized access to your documents. You can allow users save documents or limit their use of documents uploaded to the data room. Ansarada uses a pricing model which is based on a fixed rate. Their charges can be customized with the number of pages of documents uploaded or the size of the documents.
Box Virtual Data Room
Box began operations as a file sharing service in 2005. Headquartered in California, box offers a cloud storage platform to individuals looking for extra security for their documents. Users get personalized options for their file sharing and storage needs. Though box offers a free cloud storage service similar to Dropbox and Google Cloud, they also provide virtual data room services. Their data room should be sufficient for most individuals looking for improved cloud services, but they fall short of the security features required by large corporations seeking to complete mergers and huge financial transactions. Box virtual data room is easy to setup and utilize which is commendable. Uploading documents doesn’t take long, and it doesn’t require many protocols. Incidents of unauthorized access to documents are far reduced with their virtual data room due to the numerous security features. Features like watermarks, password protection and expiring documents after a said date should provide enough security for your documents. You can customize the appearance of your virtual data room to fit your company’s needs. Box offers 24 hours support to assist clients in making the best of their virtual data room. Box also offers a 14-day free trial, which allows you experience their services first hand. However, the free trial is limited in functionality so you might want to take note of that.
Brainloop was launched in Germany in 2000. Since its launch, Brainloop has grown continuously in strength and customer base. Brainloop now has offices in more than ten countries which is impressive. Its clientele comes from diverse fields from health to manufacturing. Some of their clients include BMW, Deloitte, and several others. Brainloop virtual data room comes with the necessary features for an excellent data room experience. You get easy access to the documents uploaded into the virtual data room regardless of the device used. Uploading these documents is relatively easy which should make using the virtual data room convenient. You don’t need to create folders manually for your deals; the Brainloop virtual data room automates the entire process. You can search documents uploaded easily using the full-text search feature. Security features put in place include unique watermarks, two-factor authentication, and encryptions stop unauthorized access of the documents uploaded. The integrated Chinese walls are known for enhanced security, and Brainloop applies this concept to their data room. Documents uploaded are automatically arranged symmetrically delivering the necessary organization to your data room. It also improves the speed of your business transaction(s). Users can access the virtual data room using their browsers without the use of plugins nor the installation of any software. A preliminary understanding of information technology isn’t necessary eliminating the hassles of going the basics.
Founded in 2006, SecureDocs is a virtual data room provider headquartered in California, United States. SecureDocs prides itself in having rendered services that saw over 100 billion dollars transactions. Their clientele cut across different sectors including Manufacturing, Investment Banking, Law, and several others. Buzzfeed, Asana, New Felic, Sonos, and Irogen are some of their popular clients. SecureDocs provides a virtual data room that is both convenient and easy. Their virtual data room requires no basic knowledge of information technology, so users don’t have to waste time going through such frivolities. This virtual data room provider has sufficient security parameters to check unauthorized use of documents such as the watermarks, two-factor authentication, encryptions and several others. Notifications of user activity and IP tracking also ensures improved security. You are also aware of who views what documents giving you insights capable of pushing deals in your favor. SecureDocs gives you control over who sees what documents and when which should add to the security of the virtual data room. This virtual data room provider offers a pricing model which is reliant on a fixed rate. This eliminates the possibility of any hidden charges. This adds a bit of transparency to their service. Corporate bodies and businesses looking to ensure the safety of their documents and their transactions would find the services of SecureDocs helpful.
Editors Pick for Best Virtual Data Room
Competition strives with technological advancement, and innovative data storage is no exception. There are several notch virtual data room providers in the industry, and that includes entry virtual data providers. Among this increasing list of virtual data room providers are recognized and reputable firms such as those mentioned above. However, only one firm can be considered to possess all ten nitty-gritty required for a virtual data provider capable of providing every detail required by different categories of companies which require the need for a data room service for their merger and acquisition deals or storage of sensitive information. Firmex is that data room provider. They have the necessary security needed for storage of information which a company sees as valuable. Firmex also possesses certain features business organizations will find of immense benefits especially as it concerns who accesses what document and who doesn’t. Their data room has features capable of making the users of the file sharing service comfortable without demanding they possess basic knowledge of information technology. This data room provider also comes with innovative features which enhance how secure the data room is. The Firmex pricing model can be considered affordable especially when compared to some other virtual data room providers. All this makes Firmex data room a stand out among other elite virtual data room providers.
How to find the best virtual data room provider
Knowledge of customer needs is one of the necessities towards building a business capable of surviving the throes of competitors. Data collection is one of the ways companies obtain that knowledge. Companies acquire customer data with ease thanks to the internet through which firms can obtain such relevant information. These companies use such information to ensure their businesses not only stands the test of time but grows in customer base. However, with an increase in the number of companies offering a particular service is a proportionate increase in their competition. This might be beneficial to customers, but firms bear the brunt of this outcome. Businesses have now become conscious of their competitors' effort towards truncating their plans. With advancing technology, companies now engage the use of computers in storing their sensitive information. However, this leaves them vulnerable to cyber-theft which has become quite sophisticated also in-line with technological advancements. Many companies have seen the need for a more holistic approach to protecting their highly valuable data. Aside the need to protect data is the increasing demand for a better alternative to the traditional merger and acquisition routes taken between bidders and the firms in question. The simple solution to these contemporary issues remains the use of data room. The antiquated data room in a property in a location known by the parties involved has become outdated with the introduction of the virtual data room provided by certain firms. Virtual data rooms are special since they are web-based so users can access their specific data room from any location around the globe. This is a more economical approach to the traditional data room which requires users traveling miles incurring expenses and health issues to get there. Also, virtual data room can be regarded safer since users can encrypt their information and allow only certain individuals with passwords access the documents. The one issue faced by most companies is finding a data room provider that would meet their needs and also their budget. There are certain factors which you and your company would want to consider before delving into subscribing to the use of a virtual room provider. These factors include:
Most virtual data rooms come with adequate security to ensure minor services can be carried out without loss of information. However, only certain virtual data room can offer the necessary protection required by the companies to protect their sensitive data against infiltration. So, if you require security for your company’s data, you will need to examine the security parameters of prospective virtual data providers you intend subscribing to. Parameters like the ISO 27001 certification, 128-bit encryption, and the ability to grant or deny user permission for document readability are some security features worth considering. You would also want to take into consideration the firm in charge of auditing data especially as it concerns merger and acquisition. Firms like Price waterhouse Coopers (PwC) and Deloitte are some of the many reputable firms who help virtual data room providers in ensuring the transactions you engage on their platform are as transparent as possible.
Though there are basic features which virtual data rooms possess, most providers have features they amplify in their data rooms. Features like enhanced search capabilities, improved user interface, user activity tracking are some of the features virtual data room providers focus on fine tuning to ensure a client gets some form of value for their resources. The implication is your needs for a data room will determine the data room provider you should consider. If a data room provider lays emphasis on features like tracking user activity and improved search options which coincide with what you want in a data room, perhaps the provider is worth considering.
Another factor worth considering is the support service of the virtual data room provider. Most of these providers offer a 24-hour customer service allowing you make complaints if the need arises. However, a few virtual data room providers only offer support services during business hours so you might want to consider this when engaging a virtual data room provider.
This is regarded as one of the most important factors companies take into consideration when engaging the services of a virtual data room provider. Most of these data room firms possess pricing models which depend largely on the size of your data. However, some virtual data room providers also gauge some other things when giving you a rate. Also, some firms who have acquired a large customer base charge more compared to their counterpart.
Occasions of Virtual Data Room Use
A lot of people are unaware of when to use a virtual data room service. This is not surprising when you consider the fact that a data room was recommended to a client by their broker, account or legal adviser. Some even suspect the reasons for such a recommendation especially when the cost of such a service is brought to their knowledge. We will treat the different situations when the services of a data room provider are highly advised.
When transactions regarding the purchase of a firm come up, the shareholders of the firm and possible buyers often meet up in a deal room to finalize the step to take. The problem with the traditional bidding process is its huge overhead cost. The use of a virtual data room provides a better alternative to the traditional deal room. It not only saves you resources (money and time) but also brings the bidders to your fingertips since you can communicate with several bidders by adding them as users to your data room. You can upload the necessary documents for the bidders to go over at their convenience and without any problems. Also, you don’t need to worry about the safety of your documents thanks to the security features present in the virtual data room. All this makes the virtual data room a worthy replacement for the traditional deal room.
Many companies have been put in precarious positions due to attacks on important memos sent to their employees. This makes using a virtual data room more beneficial. It is now used to store sensitive information so employees can access them without any problems. Free cloud services fall completely short of the mark for such storage needs since they lack the security features required to ensure the documents stored are safe against unauthorized use. These free cloud services also lack features which make the process of file sharing simple. Typical instances of such free cloud services are Dropbox and Google’s cloud storage. Box also offers a free file sharing service but has a monetized service which could serve a better purpose compared to the others (Dropbox and Google).
Law firms also encounter the problems most corporate institutions face - Data insecurity. They need to protect the information of client against unauthorized access not just for the client safety but also since the regulations guiding their operation demands that. Legal extranets are the traditional choice for most firms. This platform might serve the necessary function yet it lacks a lot of things. Its ambiguous nature is one of its major flaws. The use of a virtual data room by law firms for all their data security needs is becoming a widely embraced alternative to the use of a legal extranet. One of the reasons why this is happening is due to the ability of a firm to personalize their data room to suite the client’s case. Another is the ease of use of a virtual data room.
There are several other industries where the use of a virtual data room can be considered important are the health sector, the banking sector, and several others. The health sector is one of such especially since it helps medical practitioners keep their client data secure. It also ensures collaborations between doctors and their patients are free from hitches. The same applies to the banking sector and others.
How Virtual Data Rooms Assist Different Industries
Virtual data rooms are now a part of our existence, and they play significant roles in every business. To affirm the numerous benefits of a data room to industries, we will provide some insight into how certain industries use data rooms to thrive in today’s world.
The mining industry makes an important contribution towards the development of any country. Jewelry and metal tools have become a part of our existence. This means mining companies have to continuously be on their toes to meet the ever increasing demand. This can be achieved with sufficient financial resources. The importance of financial resources in any business cannot be overemphasized. Even when there are exceptions the mining industry isn’t one of such. Like other businesses, mining companies seek funds through a myriad of channels. Some of such channels include an initial public offer (IPO), or perhaps loans from banks. Mining companies have also been known to participate in mergers and acquisition as a path to solve their financial problems; typically cases where the company is faced with bankruptcy. Some examples of M&A carried out in the past between mining companies include the Taseko Mines acquisition, the merger between Osisko Gold Loyalties and Virgin mines as well as several others. In the past, such mergers took place in a deal room in the presence of different individuals representing different interests. Also, bids by different organizations are handled separately. All this increases the overhead cost of these transactions. The traditional deal room approach to file sharing and mergers is burdened with problems typical of all things analog. In recent times, there has been an increase in the number of mergers and general transactions orchestrated using virtual data rooms. These transactions are focused mainly on the corporate side of the mining industry. Due diligence, a critical exercise carried out on a company to evaluate their worth usually precedes mergers and acquisitions. The process of due diligence can be rigorous especially if the management of the mining company lack organization. However, a virtual data room makes the entire due diligence process seamless. Mining companies can use the data room to store sensitive information especially those related to their activities which in the wrong hands can affect their business negatively. The data room has made the utilization of IPOs a simple chore for mining companies. This didn’t seem feasible in the past, but all that has changed with virtual data rooms. The online presence of a data room eliminates the cost and dangers of moving sensitive information around especially in cases where the information is urgently needed. A data room also allows mining companies share vital information with their employees without any problem. Using the data room also gives the company control over which employee sees what. In situations where a mining company has to present a large amount of information, moving such information can be quite difficult. However, the use of data rooms has eliminated such challenges. Individuals whom the mining company intends presenting certain documents to can upon addition to a virtual data room scrutinize such information wherever they the individuals might be located. This saves the individual the time and makes the whole process convenient.
Data rooms also serve the function of storage for a mining company. The company can decide to store information such as environmental assessment reports and corporate documents in a virtual data room over the long period. This ensures the documents adequately organized so the management can collect such information whenever the need arises without any iota of time wastage. The security parameters put in place in a data room ensures the stored information is inaccessible to unauthorized users. Parameters such as the 2-factor authentication, dynamic watermarks, user permissions, encryptions and several others make it almost impossible for any individual without the required security clearance to access such sensitive information.
Governments at the helm of affairs of different countries sometimes decide to provide incentives for the various industries in their country. The mining industry is one of the industries considered for such an incentive. However, the government only gives such incentives to those who fulfill certain conditions. An agency of the government then scrutinizes the relevant documents of the companies with an interest in such incentives. Usually, the entire assessment process of the government to confirm the legitimacy of a company to enjoy such incentives can cost a whole lot of resources. This is worsened in situations where the mining company stores their vital information in either a physical data room or in an unsafe computer. A virtual data room saves the relevant agency of the government and the mining company involved time as well as financial resources. How? The mining company and a representative from the government agency can interact through the virtual data room. Also, the data room allows the mining company to share the necessary documents with the representative of the government agency in a seamless and hitch free process. Using the virtual data room serves as an indicator to the government the high level of seriousness the mining company takes it business and the economy of the country.
Mining companies which are well distributed in most countries in the globe would find going to their headquarters for relevant documents and briefing an expensive task and should they decide to send such documents through any of the popular means of transportation could find their entire objective defeated if the documents get into the wrong hands. Virtual data rooms eliminate such threats since the information is stored in a web-based platform which can be accessed by only those with the necessary authorization. A virtual data room is a more cost-effective approach when compared to traveling to a location to obtain such file. The era of sharing sensitive information through emails is over, and mining companies are cueing into that fact. Most mining companies now hold down data rooms for long durations and the necessary services for a nominal fee.
The Pharmaceutical Industry
Health is an important part of every country’s plan. The health sector in any country is among the sectors with the largest budget. This alone proves how the value the government attaches to human life. The pharmaceutical industry alone does not form the health sector rather there is a mix between pharmaceutical companies and hospitals. Pharmaceutical companies have a big role to play in ensuring the residents of the country live healthy lives. However, for these companies to thrive in tasks of such magnitude, they have to be performing at an optimum level. Pharmaceutical companies can only perform at an optimum level if they have sufficient resources, adequate protection of intellectual materials and all others needs of theirs adequately catered for.
Many pharmaceutical companies especially those just venturing into the industry are faced with the issue of finance. These companies can either partner with a well-established firm based with the arrangement based on the agreement reached. Before any such agreement is reached there is often a due process where the company looking to acquire or fund a budding pharmaceutical company examines the assets of the firm. The due diligence process can be considered an expense filled phase. However, this could be changed with the use of a virtual data room. The virtual data room puts the information required by the financing companies at their disposal. This cuts the cost of sending the documents to the company and protects the information inherent in the document against compromise. Mergers and acquisition are also common in the pharmaceutical industry. There is no better approach to a successful and secure merger and acquisition transactions than the use of a virtual data room. The interaction, security features, and the accessibility obtainable with a data room make the convenient for an M&A transaction. Budding pharmaceutical companies without adequate resources can seek funds through the less prominent methods such as crowd funding, a limited partner or perhaps a loan. However, they will need to provide certain information for a complete scrutiny of their claims. This file sharing can be achieved through the use of a virtual data room. Relevant individuals such as your legal counsel, auditor, and representatives from the company are added to the virtual data room. After which the necessary information is uploaded to the virtual data room. Anyone who needs to see the documents are granted permission to view them. This provides adequate protection against any unauthorized access to the pharmaceutical company’s sensitive information.
Storage of sensitive information is another important chore which requires pharmaceutical companies indulge in the use of virtual data rooms. The predominant method of keeping such information in a vault is very capital intensive. Besides the cost, the possibility of losing such information to theft is still existent. Storing this sensitive information using the cloud storage offered by platforms such as Google and Dropbox falls short in numerous ways. One of the problems facing this free cloud storage option is the lack of adequate customization options for the storage. The storage capacity offered is often limited which can become a problem in a situation where the information the pharmaceutical company needs to store is huge. Also, the security provisions of this type of cloud storage services are inadequate considering the level of sophistication cyber crimes are renowned for. A virtual data room is miles ahead of these other methods of storing sensitive information. This can be confirmed by the ease of use of a data room. The web presence of the data room means representative of the pharmaceutical company can access the information from anywhere in the world when the need arises. The security measures put in place by virtual data room providers keep the integrity of the information and averts the unauthorized use of the information. Most data room providers offer a 24-hour customer support service throughout the week. This ensures the representatives from the pharmaceutical companies can ask questions or get any information when they need such. Keeping documentations of clinical studies such as the individuals involved, the details of the research and the result of the concluded research is important to the pharmaceutical company and the health industry in general. The use of a virtual data room caters for all these and more.
Pharmaceutical companies sometimes need to share some sensitive information with perhaps a partner firm in a joint venture or with certain stakeholders signatory to the approval of their product such as the relevant government agency. The conventional method of sharing information falls completely short of the mark. Sending sensitive information through a mail puts the content of the mail including the information at risk of a compromise. This puts the existence of the pharmaceutical company in jeopardy. Having it delivered by representative increases an already overburdened overhead cost. This method also doesn’t prevent the risk of losing such sensitive information. A virtual data room not only bridges the gap between geographically remote members of a pharmaceutical organization, but it also makes the information sharing an easy one. The question and answer segment of a virtual data room ensures discussions are based on specific topics with the highlights of such discussions accessible by users of the data room. Pharmaceutical companies do not inform all their employees of certain clinical studies carried out, and the data room is no different. The administrator of a data room for a pharmaceutical company grants only members of staff with adequate security clearance the permission to view such sensitive information. This avoids the leakage or compromise of such information. To enhance the security of the data room, the entire activity conducted within the data room are recorded. An audit carried out experts bears the number of people who had access to the information and those who viewed the document uploaded on the data room. Uploading information to the data room requires little effort which makes the process of storage and file sharing uncomplicated. Pharmaceutical companies have come to appreciate the immense value virtual data rooms provide.
The Banking Industry
One of the prominent sectors of the economy of any country is the banking sector. This sector especially that which relates to investment has a deep connection with mergers and acquisition. Frankly, investment bankers are quite knowledgeable on every aspect of mergers and acquisitions. They often advise their clients on the best time to carry out a merger or an acquisition whichever might be the case. Budding entrepreneurs often listen a great deal to their investment banker. Their use of a virtual room is also dependent on the instruction laid out by the banker. This indicates the power the investment banking sector has over virtual data room providers. During a merger, individuals from the financial sector are always present to ensure the interest of their client(s) and the institutions they represent. Since mergers and acquisitions are one of the popular uses of the virtual data room, the engagement of a virtual data room provider is heavily reliant on the investment banking sector.
Financial institutions also use virtual data rooms for their transactions. Banks also have sensitive information they need to protect just like many other sectors. Storing such sensitive information requires more than a folder on a computer. Some financial institutions might have vaults, but that only comes in handy for the storage of financial resources. Items which might be required at any point are not stored in this format. Storing such information in any random platform is not only unprofessional but also a big risk especially when the sensitivity of the information is considered. The use of the virtual data room in storing sensitive information has grown in popularity, and the banking sector has joined the trend. This is confirmed with their increasing recommendation of virtual data rooms to clients who are involved in an M&A transaction.
Like every other corporation, banks also share information with members of staff and also their numerous branches. The conventional method of sharing information isn’t one employed by banks due to the porous nature of such channels. Rather, most banks like several other institutions share sensitive information through platforms like a virtual data room. Files sharing through a virtual data room can be the ideal approach for a corporate organization, and banks are not an exception to this. The virtual data room not only allows the bank share sensitive information but also control who has access to such information. Security features such as watermarks and encryption ensure the files uploaded are protected against leakage and any form of usage by the bank. Sharing information through a data room is easy. Also, features such as ‘drag and drop’ and bulk upload makes uploading the necessary documents and adding users to a data room is simple. Members of staff of a bank added as users of a data room can easily find the necessary relevant documents uploaded onto the platform by using the search feature. The accessibility of the virtual data room gives it an edge over several other channels. Being a web based application amplifies the reach of the data room so individuals who are employees of a bank headquartered in a location can receive instructions regardless of the location of their branch.
Due diligence is a process every company has to go through. The banking sector is one of the important entities involved in due diligence. Why? As previously mentioned their client(s) listen to them. This invariably means any action taken by their clients goes through them. Many companies who intend financing a project regardless of what the finance is called seek the counsel of their investment bank who then takes them through the entire due process stage. However, this is dependent on the reaction of the investment bank the financing company patronizes. The process of due diligence can be an exacting and financially challenging task if the right tools are not used. Investment banks are familiar with everything investment, and the due diligence phase is an essential part of the investment. Investment banks are aware of the paths to save cost when financing a project. They often bring this skill to play by recommending virtual data rooms for the entire due diligence period. This not only saves their clients financial resources but also ensures the process is convenient and consumes little time. It also saves investment bankers the time and energy they will otherwise expend during the due diligence phase. The due diligence process was once a period most investment bankers dread??? But with the entry of virtual data room providers that has changed. Using the virtual data room in due diligence puts the documents the financing company requires at their fingertips. It also makes speaks volume of the organization of the company desirous of the financial assistance. The use of a virtual data room in due diligence has become a widely accepted practice around the world.
Mergers and Acquisition
As previously highlighted, this is one of the most popular uses of a virtual data room. Companies merge every time and acquisitions are happening quite often as well. The reason(s) for the occurrence of these set of events vary from a need for more financial resources to a badly damaged reputation. Both business transactions (mergers and acquisition) are usually quite exacting???. It’s not impossible to conceive the difficulty surrounding these forms of transactions especially when you consider the effort and planning both situations require. A virtual data room encourages the smooth transition??? of an acquisition. It not only simplifies the due diligence process but the entire transaction. The seller can monitor the activity of potential buyers. The potential buyers can ask questions through discrete channels allowing the seller make informed decisions. This explains the importance of the virtual data room and why it has replaced the previously popular deal room in modern day transactions.
Another reason why the services of a virtual data room provider are sought after is the level of security of the virtual data room. Administrators of the virtual data room can control the documents seen by specific bidders. For those who can view such documents, the administrators also decide the particular actions which can be carried out with the documents. This is achieved with the use of security features such as watermarks, 258-bit encryptions, and several others. A virtual data room can be accessed on any device including a smartphone which ensures users are aware of what’s going with their transaction regardless of their location. During the period of a merger, the bidders are categorized into groups based on the discretion of the administrator. Each group is given different privileges based on the level of interest shown by users in the group. The virtual data room makes all this possible. It also allows the administrators of the virtual data room follow the activity of bidders so they can see the documents viewed by the bidders and also note those who are serious about the merger and acquisition deal. This is made possible through the auditing of the activities of the data room by experts. Often, virtual data room providers are responsible for the auditing of their data rooms saving the administrators and users of the data room the cost of financing expenses of this kind. Using a virtual room for M&As saves time and financial resources for all parties involved. It hasn’t been that long ago when deals were made in a conference room with the seller engaging just a single buyer at a time. Things have changed, and financial transactions have followed such trends. Virtual data room providers not only offer secured storage for mergers and acquisitions, but they also take care of duties which could act as clogs in the wheels of the progress of these transactions. The project manager handling the merger for the company liaises with the VDR provider to carry out the necessary paper work.
Virtual data rooms facilitate the legal processes during merging and acquisition. Due to a lot of legal protocols involved in Merging and acquisition, virtual data rooms simplify these legal protocols by ensuring the representatives of the two companies involved organize all the necessary legal documents. This is achieved using the available data of the two companies in question. These legal documents are processed during the procedures of merging and acquisition, and then the virtual data rooms store these files in a safe location for future purposes and references.
In making due diligence easy, virtual data rooms help investors in making informed decisions through a thorough review of the target companies. The intending buyer-company will like to have an in-depth knowledge of different aspects of the target company or business such as working capital, accounts receivable, assets including the employees and their important credentials and payroll and also legal advisors and every other detail the client needs to know about the company.
One of the benefits of using virtual data rooms is the ever improving environment. VDRs help to make merger and acquisition better by providing a wide range of digital organizations because of the level of organization which they have. Accessibility of these digital organizations is made possible online. Thus information is made available for potential mergers and acquirers.
VDRs also provide a variety of service providers for M&As. There are a lot of VDRs at the disposal of intending M&A companies. It is the duty of the potential merger companies to evaluate the various data rooms concerning their level of security and availability of data and the services they offer so they can choose the best data rooms suitable for them.
Virtual data rooms have proved their importance in the growth of merger and acquisition owing to the roles they play and their position in the merger and acquisition industry (acquirers and acquirees). Now business owners have more willingness to employ the services of virtual data rooms because of the assured trust, competency of professionals who handle company data and information, the ease of accessibility of information and data and also the ease with which these transactions can be made between partnering companies.
The use of solar energy is on the rise all over the world as it has proved to be a promising field and perhaps since it renewable which translates to a cost-effective source of energy. Many industries including owners of properties are now opting for solar energy for generation of electricity. Solar energy is now employed by various industries to optimize productivity. These include Agriculture and horticulture, transport, fuel production, energy storage methods, development, deployment, and economics. Solar energy which can be active or passive has been successfully used in water heating, cooling and ventilation, water treatment and molten-salt technology. Direct (active) conversion of solar energy into electricity involves the use of photovoltaic cells while the indirect (passive) production of electricity from solar involves the use of concentrated power systems.
Industry reports in the United States of America suggest that solar energy deployment was on the increase from 2008. It was noted that there had been a rapid expansion in solar power use from 2000 – 2008. This could be correlated with the emergence of internet business and transaction platforms such as virtual data rooms around this period.
Companies, industries, commercial and private homeowners who need solar systems have a lot to consider before installing solar power systems. Solar companies usually offer a wide range of services to intending solar users. These are information needed by the intending users to make appropriate decisions. Virtual data rooms make the information available to them at their disposal.
Virtual data rooms enable clients who need the services of solar companies to have a range of companies to choose from. They also form a platform on which solar contractor and solar companies meet for bidding and transactions. These solar companies provide the services of solar installation, solar contractors (getting matched to local contractors), give free estimates, local solar repairs, provide home advisors and a lot more.
Virtual data rooms help clients in getting the locally available contractors and in choosing repair and maintenance service. Most importantly, virtual data rooms offer a good review on the various solar companies.
The first step towards acquiring any solar system acquisition is concentrated on purchase financing. Virtual data rooms have helped a lot of prospective users in making informed decisions on this particular subject. There are solar leases and power purchasing agreements (PPAs) in which a third party owns and manages the solar system, while the client (user) sources electricity from the solar service provider. Virtual data rooms also provide you with loan sources such as banks and organizations; although these are available in some countries and states and most times where the privilege is given, it is based on certain criteria. Another system of financing which virtual data rooms provide adequate information on is property Assessed Clean Energy financing, also known in the short form as PACE financing. This type of financing gives homeowners and commercial building owners the opportunity of having their solar power at full cost while settling the cost over a certain timeframe within 10-20 years. This is usually done using high taxed assets.
There is hope for partnerships between solar cell manufacturers and equipment companies in the growth of the solar sector. The production process technology of solar companies provides a lucrative investment opportunity. The partnership of ownership between users and manufacturers is an urgent path tolled to circumvent the activities of vendors or savvy manufacturers who try to take advantage of users in the installation financial agreements. The user companies or individual entrepreneurs require formal partnerships that will help them retain ownership of intellectual property associated with the manufacturing processes.
Apart from the system of purchase financing, virtual data rooms also provide clients with options of a system of ownership which can be through lease transfer versus sale or lease to own. In lease transfer versus sale, the current user of the solar system intends to lease the solar system for a certain period or sell it to an intending buyer. This would require a lot of work from the seller in trying to convince potential investors. With virtual data rooms, however, the seller need not worry about convincing the potential clients. All the seller needs to do is to provide the information and details about the solar system including the installer companies, the solar panel manufacturer, the capacity of the solar system, repairs and maintenance information for the virtual data rooms. This information would be made available to potential users for bids. Alternatively, virtual data rooms also provide potential solar users with homes which have the cost of solar systems incorporated in their prices.
Another aspect of the solar power system where virtual data rooms have immensely helped potential users is in the area of cost and savings. Most solar installation companies have solar calculators on their websites which would help in calculating the cost of purchasing a solar system and how much users could save from it. Because each calculator gives a different estimate, a lot of comparisons would be made by the potential user using the information and data available on virtual data rooms to get electricity cost estimates, available incentives, generation potential and financing assumptions.
These companies can provide data of different solar company calculators on virtual data rooms where they can be sourced by potential solar users. These calculators give estimates of electricity cost in many ways; either according to national or regional average electricity consumption or based on the information provided by end users. Some calculators make provisions for federal or local incentives in areas where these are given. Also, data on the capacity of electricity generated can be found on different calculators; this is usually done using satellite photo of the size of the roof of the user, solar irradiation of the region or electric consumption. The cost of generating solar energy varies from region to region. Solar companies which are used in high-wage countries are usually more efficient than those used in low-wage countries. However, countries with low wages like China enjoy more leverage in cost regarding using solar power because they(Chinese and Asians) develop skills and strategies to improve solar efficiency. It follows those solar companies in regions with high labor cost need to constantly monitor and weigh the risk-benefit of locating their plants in regions with low labor cost because these regions usually enjoy financial assistance from government, banks or other organizations.
In the area of equipment, a variety of solar panels are available in the market, and these have their own merits and demerits. End users need to know the particular solar panel the company installs, and this process can be facilitated by the use of virtual data rooms to save cost and energy of traveling over long distances in accessing the best solar panels to use.
Also, virtual data rooms can provide intending solar users, the platform for making considerations which are paramount in the purchase of solar equipment. These considerations include: price versus efficiency, warranties, and reliability on both the panel of the chosen company and the continued existence of the company in the long-run, options of solar installers and their manufacturers and guarantee of repairs in case of fault developments.
Additional services which can be considered using virtual data rooms are maintenance and warranties, financing – some companies help their customers in financing the cost of purchasing a solar system by providing them with some form of aid such as Property Assessed Clean Energy financing. Also, there are companies that help end users find incentives which they are eligible to; like federal, state or local incentives.
During installation and post-installation, some solar companies also provide customers dedicated salesperson and post-sale representative respectively; the latter for maintenance and service repairs, although some of these post-installation services may come with additional cost.
The solar industry which is still in its infancy stage in most countries of the world is faced with many challenges which can be solved using virtual data rooms. The three major problems are grid infrastructure, inefficiency, and oversupply. Storage and reliability problems are birthed due to lack of centralized grid infrastructure. The solar industry has not developed sustainable, reliable means of storing energy which is produced from the sun. The amount of solar energy which can be produced at any given time and a given place is in most cases quite uncertain. So solar energy generated might end up being wasted, especially in areas where solar power usage is poor. To help solve this problem, the rate of solar energy generation and its consumption have to be in equilibrium, and this is where virtual data rooms come into play. Much technological advancement in innovating solar power storage systems is ongoing by many companies. Virtual data rooms can collect data and information on the activities and progress made by such ventures. This data would be great resource information for entrepreneurs and companies who have plans of investing in the solar sector.
In tackling the problem of reliability of solar energy, the storage of solar energy can go a long way in making solar power generation more reliable. There have been recent breakthroughs in the ultra-accurate forecasting of solar power together with energy generated from the wind. Software like Data and Machine Learning are transforming the solar industry for good. The solar industry employs this software to help evaluate and munch data to achieve a lower cost of solar energy generation and create new markets for their technology. Data such as algorithms and sensors are now being utilized by most solar companies, and these are attracting more investments. Now companies and entrepreneurs engage in the acquisition of already existing solar companies while others engage in new start-ups of solar companies. Virtual data rooms can use data to solve the problems of solar industry through the collection, collation, processing, and organization of data. They can do this by tracking, monitoring and assessing data from various solar projects worldwide.
- 1 Virtual Data Rooms
- 1.0.1 What is a Data Room?
- 1.0.2 Who Uses Virtual Data Rooms?
- 1.0.3 Top Virtual Room Providers
- 18.104.22.168 Firmex
- 22.214.171.124 Intralinks
- 126.96.36.199 iDeals
- 188.8.131.52 Merrill Datasite
- 184.108.40.206 RR Donnelley
- 220.127.116.11 Sharefile Citrix System
- 18.104.22.168 Ansarada
- 22.214.171.124 Box Virtual Data Room
- 126.96.36.199 Brainloop
- 188.8.131.52 SecureDocs
- 184.108.40.206 Editors Pick for Best Virtual Data Room
- 220.127.116.11 How to find the best virtual data room provider
- 18.104.22.168 Security
- 22.214.171.124 Features
- 126.96.36.199 Customer Support
- 188.8.131.52 Pricing
- 184.108.40.206 Occasions of Virtual Data Room Use
- 220.127.116.11 How Virtual Data Rooms Assist Different Industries
- 18.104.22.168 Mining
- 22.214.171.124 The Pharmaceutical Industry
- 126.96.36.199 The Banking Industry
- 188.8.131.52 Mergers and Acquisition
- 184.108.40.206 Solar Industry