Why Virtual Data Rooms are Hot
You think mergers and acquisitions are hot? The money is hot. The business is hot. And the platform, Virtual Data Rooms, is where the hotness happens. We’re aware that “Virtual Data Rooms” are not the sexiest sounding term. But it’s where the Very Doable Relationships happen (this may or may not give new meaning to “doable”). Here are five reasons why virtual data rooms are hot:
1. They’re like a 5-star hotel
Just like hotel rooms are convenient and efficient when in the real-world, virtual data rooms share sensitive information in the online world. Even the etymology of these two weird words work: hotels have action, virtual data rooms have transactions.
Hotel = Action
VDR = Transaction
Since this works so well, let’s stick with the theme of analyzing the origins of words. The French came up with the word “hôtel,” which referred to a French version of a building seeing frequent visitors rather than a place offering accommodation. The French are fancy and know how to provide high-quality care, just like Virtual Data Rooms have that je ne sais quoi to…hotness.
Speaking of hot, let’s talk about the fancy symbol above the “o.” Scroll up if you didn’t notice it in the word hôtel. Yes, this fancy symbol above the “o” is called the caret…a caret! While a caret in punctuation is slightly different than a diamond “carat” they both symbolize money and nice things. But you first need a fancy hotel room virtual data room to get nice things. And you deserve nice things.
You also deserve to know the latest market research report that explains how virtual data rooms are the new standard tool for many businesses. Warning: if you click that link, your hotness will decrease. But you’ll get smart!
2. They’re intuitive
We live in two worlds. The intuitive one of the modern internet, based on data, documents, and clean interfaces. And the false one left over from last century with clunky platforms and awkward interactions (aka real life). Just kidding.
But we’re not kidding about the need for a less awkward place to conduct business. If you enjoy emailing documents back and forth, you can stop reading now. But if (and when) you start to lose track of you and your clients’ confidential information (and this will happen), you’ll start to wonder if there’s a better way. And there is: Virtual Data Rooms are like the Spotify for finance.
While T-Pain may not show up in your Virtual Data Room (yet), you’ll experience less pain with each business transaction. When you don’t have to navigate outdated technology, all you’ll do is win, win win because you’ll intuitively know, know, know how to make the hot deals happen.
3. They’re convenient
While 711’s were sexy circa 1976, virtual data rooms are sexy for business circa 2018. Convenience is no longer just a store. It’s a way of modern life.
Think of this way: Jet lag isn’t sexy or convenient. So, instead of hopping on a long, grueling flight to see your clients in-person, why not conveniently pop into a physical room by setting up a virtual data room? The only boarding you’ll need to do is onboarding new clients. And that’s hot.
When you get your deals done in the right virtual space, you’ll keep pace with new business. And you’ll conveniently close the deals that matter.
Take advantage of our free, 14-day trial for our virtual data room.