Friday, May 6, 2011
Summary: The V-Rooms Virtual Board Portal provides boards of directors with a highly secure, yet economical, Internet-based electronic board book platform for managing director level communications and activities.
Atlanta, Ga (PRWEB) May 06, 2011 — V-Rooms™, a product of Due Diligence Online, LLC, has launched the Virtual Board Portal which serves as an online replacement for the cumbersome three-ring binders normally used for board meeting materials. At an annual base cost of only $3,000, the V-BoardPortal offers a significant cost savings, compared with the printing, binding and shipping of hard copy documents.
The Board Portal concept was initially driven by the Sarbanes-Oxley act to provide better corporate governance through timely information access and increased director visibility. Additionally, corporate board members have become more technologically savvy and weary of bulky board books. The web-based platform makes it easy for board members to access, review and exchange the crucial business data they need in order to make better, more informed decisions. Now administrators are able to build board books, upload new versions of documents and instantly distribute this information. Directors are able to search historic documents 24/7, access current information and even cast their vote in the Board Portal secure system.
“Our V-Rooms Virtual Board Portal is a natural extension of our Virtual Data Room (VDR) platform which has been assisting in streamlining financial and legal transactions for over six years,” said Dan Bradbary, CEO of V-Rooms. “We are able to easily tailor our full-featured VDR program to economically meet the needs of board members of public and private companies.”
Corporate governance is becoming increasingly more complicated. Board members, along with their associated committees, executives and outside consultants generate and share highly sensitive information relating to topics such as strategic alliances, potential acquisitions, compensation and litigation. The V-Rooms Virtual Board Portal provides corporate directors with a highly secure and cost effective web-based environment to manage this critical information. 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.
Due Diligence Online, LLC (800-731-6379). V-Rooms provides privately-branded online virtual board room and virtual data room solutions, designed to streamline document management, collaboration, exchange and archiving for Financial, Legal and Corporate professionals. Our document repository facilitates the compliant and auditable exchange of sensitive information to accelerate complex, information-intensive processes, while reducing the time and expenses associated with data distribution, courier, printing and travel.