Expo Real: New Virtual Data Room Solution takes Due Diligence to a new level
Drooms by SaaS Specialist DRS (Data Room Services) provides unsurpassed time and cost savings for commercial real estate sales.
Drooms uniquely enables simultaneous controlled access for an unlimited number of people to vital transaction documents for both buyers and sellers.
To arrange an appointment at Expo Real with DRS (C1.230) please call +49 (0)611/973150 or e mail firstname.lastname@example.org.
Alternatively visit DRS’s stand at Stand 230 in Hall C1, where DRS is exhibiting together with the City of Frankfurt.
Frankfurt, August 7th 2012 – At this year's Expo Real, Data Room Services (DRS, www.dataroomservices.com) presents it´s new virtual data room solution Drooms.
Due Diligence is at the very heart of commercial real estate transactions. There can often be several thousand documents that require thorough checking by many due diligence specialists. This is a complex and highly secure process, which can now be managed more easily and transparently with Drooms. DRS uniquely enables simultaneous controlled access for an unlimited number of people to vital transaction documents on both the buy and sell sides. Due to a new interface, new menu navigation and extensive search functions, Drooms is even more user friendly, resulting in significant time savings.
DRS's Managing Director, Jan Hoffmeister explains; "Our new data room solution sustainably optimises the Buy Side and Vendor due diligenceWe designed Drooms to be the next generation of the virtual data room."
Drooms provides in real time a clear presentation of all contents present in the virtual data room due to the high speed of uploads as well as the display of documents, such as contracts, settlements, powers of attorney or technical documents. "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", Hoffmeister emphasizes. When you have a large amount of data that needs to be managed, a delay of only a few seconds in the document display can lead to a loss of several weeks. According to DRS's Jan Hoffmeister, there can often be several thousand documents require thorough checking by many due diligence specialists. The cost of any delays caused can be enormous.
Drooms provides a clear overview of the complete documentation, which is very important, since a recent survey of the Real Estate Advisory Group (REAG) shows that documentation of poor quality can negatively impact purchase prices by up to ten percent so that the real estate industry experiences losses in the billions every year through financial transactions.
- The new interface of Drooms 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".
- A split screen capability makes it possible to compare two documents, such as the annual report for the past two years directly 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.
- Various parties on both sides of the transaction can simultaneously access relevant documents in the virtual data room.
- The documents are placed into the data room via simple drag & drop functionality.
- A sophisticated, yet easy to handle rights management system guarantees security and confidentiality. With this tool, the seller determines which users may view, print or save which documents and when they may do so.
- 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 is allocated by the system. This enables a lean and sustainable communication flow between the parties involved.
Interested visitors can get more information about Drooms at Stand 230 in Hall C1, where DRS is exhibiting together with the City of Frankfurt.