The need to securely share large volumes of of critical information easily and cost-effectively have made corporations across diverse industries turn towards SaaS (News - Alert) solutions, and Firmex, which offers virtual data room solutions has announced that there has been a surge in the number of corporations utilizing such services.
Gradually, SaaS solutions are surfacing as a certain growth area for companies and Firmex's solutions appear to be capable of addressing real world business challenges from the time of startup.
Specialized server and security software are needed to ensure a secure and reliable data center. This is a significant investment, which is why clients rely on Firmex to ensure their virtual data room Web sites run continuously and are uncompromised.
Sharing documents online in virtual data rooms have primarily been used for due diligence in M&A, fund raising, refinancing, and real estate transactions, but now corporations are conscious of the need and value of sharing information online.
Not only does this move complement and improve internal and external business process, streamline real world business challengers, but also enables companies to have an accessible repository of important legal documents.
Using SaaS virtual data rooms such as Firmex, clients can organize and access millions of documents in a SAS (News - Alert) 70 compliant environment with encryption transmissions, and fully segmented and secure databases with mission critical redundancy, very much akin to the environment that office computer storage provides.
Aaron Booth, VP Sales at Firmex commenting on the way companies operated said that most of them preferred to send important and valuable information as e-mail attachments or through expensive intranets. Such internal solutions tend to be expensive not only to develop but also to maintain.
Booth further added that hosted turnkey solutions could provide the required security, risk management and ensure business continuity at a fraction of the cost of in house solutions, and the first 3Qs, 2010 saw corporations seeking virtual data rooms for secure file sharing.
He concluded by saying that in the past six months, energy, biotech, manufacturing, health care and pension fund corporations have been actively seeking a more secure way to share information, which clearly indicated that no matter what the business was, the bottom line would always be the need to securely share large volumes of information easily and cost-effectively.
Firmex technology facilitates, streamlines and accelerates the exchange of critical information within a secure online environment to improve operational efficiencies and increase deal velocity.
Wind, solar and biodiesel energy developers are increasingly using Firmex to share confidential engineering, procurement and construction documents. Unlike other virtual data rooms, Firmex offers a private label Web site and segmented databases – in which developers can set up as many secure document rooms as they require for a monthly subscription fee.
Mini Swamy is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.
Edited by Ed Silverstein