Sierra Consulting Group's Virtual Data Room (VDR) is a secure, password protected website that can be used to manage large volumes of electronic documents. Sierra Consulting provides use of its VDR to clients as part of litigation support or corporate restructuring engagements.
Create Your Own Branded Virtual Data Room
Sierra Consulting can also create a Virtual Data Room for your company or firm that is branded with your logo and contact information, and you can even select the domain name (e.g. www.XYZlawfirmVDR.com) FOR FREE!
Virtual Data Rooms are a secure website used as an electronic library for document storage.
- Cost efficient
- Easy to use and convenient
- You control and set up the users and passwords
- You manage the documents to be viewed by each user (each user has their own database)
- Can be customized for a specific client or transaction
- Secure and reliable
Benefits of having your own VDR
- Clients have immediate access to records and data from anywhere in the world
- No copying or mailing costs. Huge cost savings!
- Example: 100 documents with 100 pages each, copied for 25 different parties at $0.20 per page = $50,000 in copy charges alone! Plus shipping costs!
- Able to store large electronic files that e mail can not handle. Most e mail accounts can not handle more than 5 megabytes of data per message and many documents are larger than this, especially ones with pictures and graphs.
- 24/7 access to records and can be downloaded from any internet connection
- No travel costs to review documents. Huge savings for a client
- No need for a physical data room
- Don't have to worry about parties running into each other at a physical location
- Provides an audit trail on documents reviewed by user
Virtual Data Room examples:
- Mergers and Acquisitions
- Replaces a traditional due diligence room. Saves travel costs, and the ease of use encourages additional bidders.
- Litigation Matters
- Exchange documents among parties in different locations or simultaneously among opposing parties during discovery. The audit trails shows when the documents were viewed by each user.
- Bankruptcy Engagements
- Allows easy access to due diligence documents in a 363 sale. Or, you can post Statements & Schedules, proposed Plans of reorganization, disclosure statements and other key documents.
- Firm Administration
- Post all of your client's correspondence, faxes, e mails, invoices and other relevant information in a client specific file that the client has complete access to.
Sierra Consulting Group can set up a free customized Virtual Data Room for your company or firm (or one of you clients), usually within the same day. The VDR can have your firm's (or your client's) logo and contact information on the website. The website's domain name is selected by you. All of the data is stored on a secure Sierra Consulting Group server that has backup features and an auxiliary power supply. Sierra Consulting Group does not change you for setting up the VDR - instead we charge just a nominal monthly fee per document per active user. You can control the number of active users and the number of documents that they have access to. So you can have full control over how much you are charged.
For more detailed information on setting your own Virtual Data Room select here.