CorporateINTL VDR Leading Expertise

The Importance of Virtual Data Rooms - Leading Expertise

Download this Article

December 2011

Cisco has issued a Global Cloud Index (2010-2015), an estimate of global data centre and cloud-based Internet Protocol traffic growth and trends. Based on data from the Global Cloud Index, Cisco estimated data centre traffic will reach 4.8 zettabytes annually by 2015, with cloud computing as the fastest growing component. The Cisco Global Cloud Index is an ongoing effort to forecast the growth of global data centre and cloud-based IP traffic. The forecast includes trends associated with data centre virtualisation and cloud computing.

Evolution of virtual data room technology

Although cloud computing and virtual data room (VDR) technology is an incredibly important tool for businesses today, the concept did not just appear out of thin air, but rather evolved from various generations of computer based resource sharing. Access to shared information in the form of grid computing, utility computing and network based subscriptions to applications have paved the way for the cloud computing services that are available to businesses and individuals today.

Cost management

Many of the VDR providers er extremely flexible price plans based on what package a company or firm is looking to obtain. This linked with the savings made by reducing employee travel, and the removal of other human expenses by way of connecting employees virtually, can result in a very appealing and cost effective solution for clients. Spending on virtual data room technology can be small when considered relatively to the potential business growth.

Virtualisation can enable very effective scalability. Virtual data room technology mixed with the widely available option of "Pay per use," allows businesses to adapt their cloud computing needs as their business plans change.

Disadvantages

Despite the vast array of opportunities that cloud computing and VDR technologies can offer, there are some minor drawbacks. Firstly the organisation availing of the service must have access to a stable broadband service. Secondly for some organisations the cloud computing services on offer may not fit with the company's current business model. Finally, in certain cases businesses may even have to create adaptive architecture to work cloud computing and VDR technology into their day to day operations.

Article

In order to help reduce the rising cost of conducting business in today's world, organisations are beginning to adapt and change their traditional practice and open up to new thinking and fresh concepts in regards to a variety of business needs. To address the growing need for secure, online document exchange portals, well beyond virtual data rooms for the M&A industry, V-Rooms™, a division of Due Diligence Online LLC, is providing a variety of cloud-based document exchange portals whereby an organisation may share sensitive documents with external parties, partners, regulatory agencies, legal and financial advisors.

V-Rooms™ delivers a privately-branded online solution, designed to streamline document management, collaboration, exchange and archiving for financial, legal and corporate professionals, typically involved in mid-sized companies. V-Rooms document repository technology facilitates the compliant and auditable exchange of sensitive information to accelerate complex, information-intensive processes, while reducing the cost, in both time and expenses, associated with data distribution, courier, printing and travel. At the conclusion of a project, the firm also offers a no-cost archive function, which allows the client to download a full copy of all folders, files, users and administrative reports for historical purposes.

Dan Bradbary, Founder and CEO of V-Rooms, explained to Corporate International what sets this on-demand document management service apart from the competition:

"We provide a platform for assembling critical information and documents. Within a couple of hours we can have a new client up and operational. Ease-of-use continues to be one our most important attributes. This is why we have implemented bulk uploading of files from the client's desktop computer, whereby the client is able to quickly "drag and drop"folders with thousands of files. Also, using V-Rooms automated system, hundreds of confidential usernames may be immediately set up and distributed. In less than one day a project may be fully made available."

By availing of the services of companies like V-Rooms, businesses can remove the logistical barriers caused by the transport of staff or equipment or possibly even the costly installation of project specific infrastructure.

Cloud-based portals integrate collaboration, security and flexibility into services that support the controlled sharing of sensitive information outside of organisations' computer servers. They are quite appropriate for functions that may need to share possibly several thousand pages of confidential information with groups of 10 to several hundred people who may be geographically dispersed, as well as being located partially or fully outside the enterprise.

In the face of recession many industries have seen a huge drop in revenue while dealing with a rise in fuel and transport costs and in the case of some companies in certain jurisdictions, new taxes and operational fees. Cloud computing helps control costs, offers flexibility and reduces overheads.

"V-Rooms have experienced rapid growth in the past three years, which we attribute to the increasing acceptance of cloud-based solutions, our economical cost platform, and high level of customer service. Also, approximately 20% of our new business inquiries are coming from clients who are seeking an effective system for handling cross-border transactions. Given the above factors, we see considerable growth opportunities going forward," concluded Mr. Bradbary.