Atlanta, GA July 20, 2011
Recognizing the increased interest in Portal software, V-Rooms Virtual Data Rooms has launched a separate website VBoardPortal to help organizations streamline their board of director communications while also identifying the needs for Legal Client Portals, Vendor Portals and Limited Partner Portals.
To address the growing need for secure, online communication portals, V-Rooms™, a product of Due Diligence Online, LLC, has launched a website to specifically assist corporations in setting up cloud-based electronic board book platforms for managing director level communications and activities.
The official launch of the Board Portal site will be featured at the Alliance of Merger & Acquisition Advisors – AM&AA 2011 Summer Conference in Chicago, July 19-21. V-Rooms Virtual Data Rooms has been a proud sponsor for the past five years and is the VDR provider of choice for many AM&AA members.
Also gaining popularity are Legal Client Portals which allow a law firm to securely communicate with its clients “outside of the firm’s firewall”. This secure platform provides a workspace for the active collaboration on a variety of documents, without the security concerns associated with allowing clients’ access to the firm’s computer servers. Likewise, Limited Partner Portals are becoming increasingly popular as Private Equity firms seek more efficient and secure ways to communicate with their investors.
“Based upon the demand and the growing acceptance of cloud-based systems, we are focusing on providing Board, Limited Partner and Client Portal solutions. This is a natural extension of our Virtual Data Room (VDR) platform which has been used to streamline thousands of financial and legal transactions over the past six years,” said Dan Bradbary, CEO of VRooms.
Although, the Board Portal concept was initially driven by the Sarbanes-Oxley Act to provide better corporate governance, corporate boardmembers have become more technologically savvy and weary of bulky board books. This Internet-based solution makes it easy for boardmembers to access, review and exchange crucial business data, even granting access permission for specific documents to external consultants and partners. This is essential in today’s highly mobile and regulated environment where board directors in various locations create logistical challenges for the directors themselves, as well as those individuals responsible for administering boardroom activities.
Karen Perkins KPerkins@V-Rooms.com Phone: 800-731-6379