Firmex Virtual Data Rooms Help make Paperless Organizations a Reality
Millions of documents securely stored online now replace volumes of paper copies.
- (1888PressRelease) October 29, 2010 - For many organizations, reducing paper consumption is a key component of their corporate social responsibility portfolio and technologies provide several opportunities for businesses to function with far less paper. Estimates show that 10-30% reduction in paper usage is possible with appropriate use of available technology.
Firmex, the leader in branded virtual data room technology, has enabled organizations from solo firms to global enterprises lessen the need for storing millions of paper based documents. By providing a secure, online location to exchange and track confidential information, manage workflows, create tamper-proof audit trails, and encourage effective collaboration with internal and external parties, organizations can radically minimize their reliance on paper.
Additionally, organizations often experience greater efficiencies in their business processes when access to critical information is available online, 24/7, regardless of the geographic location or time zone of their employees, partners, consultants, advisors, or board members.
"Not only is this an environmental consideration," says Joel Lessem, Firmex CEO. "There is a fundamental risk when critical information can be found in paper form scattered around an unlocked office. But typically within document-intensive organizations, risks revolve around business disruption with a local computer infrastructure rather than criminal malfeasance."
By using virtual data room technology, M&A advisors, lawyers and corporate executive staff do not run the risk of experiencing a system failure while under tremendous time pressure to complete their deals.
"I have spoken to clients whose storage of paper based documents can consume entire rooms or even floors of an office building," states Aaron Booth, Vice President of Sales at Firmex. "In the most unlikely scenario, an organization should also consider the ramification of a flood or fire occurring, which has happened to our clients in the past."
About Firmex
Firmex provides virtual data rooms designed for law firms, investment banks, private equity firms, accountancies, life sciences organizations and corporations worldwide. Firmex technology facilitates, streamlines and accelerates the exchange of critical information within a secure online environment to improve operational efficiencies. Information about Firmex can be found at http://www.firmex.com.
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