There are many ways attorneys can make use of a virtual data room in their practice, including efficiently managing and storing data, securely transferring large volumes of documents outside the firewall and much more.
As I’ve discussed in the past, online collaboration platforms generally allow for far more secure communication than email and offer attorneys a secure online location for collaboration.
At Firmex we provide virtual data room solutions to lawyers who seek to enhance and streamline their document exchange processes. Saving time for our clients is essential to Firmex and as such, the iPad, with its intelligent efficiencies, is appropriately aligned with our conviction.
On March 18, Firmex participated in the ALM’s Virtual LegalTech for the first time. In honour of the inaugural venture, our team held an iPad giveaway contest.
In late 2008 we at Firmex were discussing strategy around enhancing our data room service for client satisfaction and planning for the future. We identified the need for a benchmark to measure our success in delivering our service to our clients. We also needed a better understanding of how clients feel about we deliver, and what they need in the future to enhance their experience.
In late 2008 we at Firmex were discussing strategy around enhancing our data room service for client satisfaction and planning for the future. We identified the need for a benchmark to measure our success in delivering our service to our clients. We also needed a better understanding of how clients feel about what we deliver and what they need in the future to enhance their experience.
I am awestruck with the economic impact SaaS has had on the software industry in the last half decade and, I suspect, it will grow to be of similar magnitude to the Internet’s effect on newspapers, music and publishing. I have no doubt that the efficiencies SaaS drives will completely disrupt the software business and here are the reasons:
I was in the client-server business from 1993-2005 and since 2005 I have been in the SaaS business. I am awestruck with the economic impact SaaS has had on the software industry in the last half decade and, I suspect, it will grow to be of similar magnitude to the Internet’s effect on newspapers, music and publishing. I have no doubt that the efficiencies SaaS drives will completely disrupt the software business and here are the reasons:
Over the next few months, we will be making Firmex simpler for our clients to administer their virtual datarooms / workspaces and interact throughout the application
As developers we constantly focus our attention on the performance of our Firmex platform. While this concentration will always be an important aspect of what we do, it is imperative to direct our attention to exactly what we are developing and how it is being used. Since launching the new Firmex service-based architecture, our web application has experienced huge gains in speed and performance, paving the way for us to develop new ways to streamline workflow for our users.
Firmex’s software engineers, busily developing hyper-secure code that drives virtual data rooms full of mission-critical documents that are accessed by 10,000s of users every month, should be treated to an open creative space that is as dynamic as their work.
Ad agencies and design firms, as creative shops, have always used the design of their spaces to inspire their employees to creative heights. But, really, it’s in every business owner’s interest, no matter what industry, to build an employee environment that invites creativity and productivity.
A technical overview of recent data rooms and the speed enhancements for large transactions that are saving our clients considerable time and money when managing transactions with thousands of documents.
Because data room performance is important to our clients, we recently released the first wave of our new software architecture to address the growing demands of our customers.
Welcome to the new and improved Firmex Blog. These are the goals for this online space. Thanks for dropping by!
Welcome to the new and improved Firmex Blog, an online space to discuss about secure document exchange and collaboration, virtual data room technology and its applications, M&A trends and news, secure extranets, and many other related topics. Read more…
Firmex, the leader in branded virtual data room infrastructure, today announced significant enhancements to its technology platform to support large projects.
At Firmex we are proud to announce significant enhancements on our virtual data room technology platform. The following is an extract of the press release made public today:
Firmex has released a new architecture that exponentially increases the speed in which users can review large volumes of documents.
“Since we do not charge for data or documents stored, our clients have increasingly been using Firmex for very large transactions. These transactions can run 10,000 to 100,000 document folders, each containing sets of documents”. Read more…
Firmex releases new enhanced functions that allow executed documents to be published directly from the deal room to external media in seconds.
Firmex is pleased to announce new enhanced functions that allow executed documents to be published directly from the deal room to external media in seconds. “After closing a deal, parties, often exhausted, tend to move on to other deals. Thus leaving the responsible party scrambling to pick up loose ends and create the closing binders” says Chris Gaffney, Director Client Services at Firmex. Read more…
There has been much talk about the “boom and bust” of client extranets and deal rooms. In the late 1990s leading firms such as Allen & Overy and Clifford Chance invested millions building their own deal rooms. Neil Cameron, legal consultant, quoted in LegalIT article : Five Year Review Back To the Future (October 2005) [...]
There has been much talk about the “boom and bust” of client extranets and deal rooms. In the late 1990s leading firms such as Allen & Overy and Clifford Chance invested millions building their own deal rooms. Neil Cameron, legal consultant, quoted in LegalIT article : Five Year Review Back To the Future (October 2005) , says that clients are not interested in using their law firm deal rooms. That in the future law firms will use their clients deal rooms.
On this note I spoke to Gillian Stacey at Davies Ward who have been running numerous deals on “their” deal room for clients. I asked her if clients have been giving any push back on using the Davies deal room? The answer was an emphatic “no”! She says that clients are not in the business of running deals. Many simply do not have the deal frequency or inclination to invest in the technology.
The Evolution of Transaction Document Management
This diagram illustrates the current ways of executing a deal.
