Business-critical transactions: we have developed the next generation virtual data room
Drooms by SaaS Specialist DRS is the first virtual data room which sustainably optimises the Buy Side and Vendor, due diligence.
This makes it possible to execute complex business critical transactions such as commercial real estate sales, Mergers & Acquisitions or IPOs, efficiently, safely and easily.
Drooms was specially designed for real estate companies, international law firms, banks, enterprises, and consulting companies.
Frankfurt, July 12th 2012 – SaaS-Specialist DRS has further developed its virtual data room which provides for the execution of complex, business-critical transactions such as commercial real estate sales, Mergers & Acquisitions or IPOs. The new data room, which will be known as Drooms, is the first virtual data room that sustainably optimises the Buy Side and Vendor Due Diligence. Due to a new interface, new menu navigation and extensive search functions, the DRS solution is even more userfriendly, resulting in significant time savings. DRS uniquely enables simultaneous controlled access for an unlimited number of people to vital transaction documents on both the buy and sell for sides. To order an online presentation of Drooms at no cost please go to firstname.lastname@example.org.
According to DRS, the virtual data room was designed to execute confidential due diligence processes, especially for real estate companies, international law firms, banks, enterprises, and consulting companies. DRS's managing director Jan Hoffmeister sees in the new solution the data room of the next generation: "Drooms excels with a high degree of safety, user-friendliness and efficiency." He explains that, the high speed of uploads as well as the display of documents in the virtual data room makes working in real time possible and provides the basis for a fast and cost-efficient transaction process. Hoffmeister emphasizes: "Drooms can easily save over 100,000 Euros compared to other market solutions just through the display of the documents in real time, even for medium-sized transactions“.
When you have a large amount of data that needs to be managed, a delay of only a few seconds in the document display would mean a loss of several weeks. According to DRS's Managing Director, there can often be several thousand documents require thorough checking by many due diligence specialists. The cost of any delays caused can be enormous.
DRS is the only provider whose data room is not browser-based, but is designed as an app. This significantly increases the safety and confidentiality of the documents stored in the data room. Drrooms was developed following a very long consultation process with a number of key customers from different industry sectors. The result is a solution that reflects this input with with many new features and is available for both Mac and Windows users. According to DRS's Managing Director this explains the high degree of user friendliness of Drooms: "The new interface together with the simplified menu navigation has optimised the ease of use.“ The status functionality can identify documents in the data room individually as "read", "in process" or "reviewed". The partition of the screen for a parallel display of two documents is another userfriendly and timesaving function. A split screen capability makes it possible to compare two documents, such as the annual report for the past two yearsdirectly on the screen. In addition, extensive new search functions combined with a structured index make it possible to find information that is sorted by a variety of different linked criteria fast, both in the index and also in the full text.
Hoffmeister emphasises: "Drooms provides in real time a clear presentation of all contents present in the data room“. The transaction relevant records such as contracts, settlements, powers of attorney or technical documents are virtually stored through a simple drag & drop method. In addition, Drooms makes it possible, through a comprehensive authorisation concept to access confidential documents and thus guarantees safety and confidentiality. In the "View only“ mode participants are only authorised to view documents. Additional authorisations determine which user is allowed to print or save which documents at what time. The complex question and answer process for transactions is handled in a structured manner through the integrated question & answer tool. With this tool, questions can be posted directly they arise and can be answered immediately by the correct specialist, who isallocated by the system. This enables a lean and sustainable communication flow between the parties involved.