When a new phone update is available, people normally get around to configure it ASAP. There’s also a tendency to modernize the way of living every few years. Why is it then, that in business, data room software, in particular, it is normal to “do as we always have done” – even if that way is ancient?
Virtual data room software is one of the major used tools within the M&A sector. Not only does it keep documents digitized, but it is also a safe method to keep the information confidential; tracking every step of who’s seen the documents and when. More and more users are needed to access the software, but the payment model is not always up to date.
2008 – an ancient epoch
At DiliTrustn, we first started supplying our virtual data room solution about 10 years ago. It may sound like a short period of time, but much has happened since.
Think back to 2008… The first generation iPhone, with its 4GB and still on the 2G network. The year also delivered news such as actor Heath Ledger passing away, Champions League being won by Manchester United, and the number 1 single in the U.K. was Basshunter’s “Now you’re gone”. More known, it was the year of the world’s worst financial crisis since the 1930’s depression. Does it seem like a long time ago yet?
In that time, 2008, a Data Room was shaped differently and the clients had different needs. Even though the Internet had been up and running for a long time, for security reasons, it was still common to stay off the computer for Mergers & Acquisitions. If a data room was used, the client would pay per user or page.
2018 – the new era of digital?
Fast forward 10 years, 2018, and a lot has happened. Smartphones now have face recognition, Man U is nowhere near its past glory days, the economy has bounced back, and not many people remember the one-hit-wonder from Basshunter.
More so, data rooms are one of the most used software solutions within the financial industry today. Though apart from new and improved interfaces, not much has changed around the software. Most suppliers still often ask their clients to pay per page. Honestly, isn’t that a little strange?
Back to the future
A qualified guess is that, in 2018, no one still uses their 4GB, 2G network iPhone. Even searching for the product online generates words such as “obsolete” or “vintage”. So, if you’ve changed the way of your social behavior and use of digital products, isn’t it also time to change the professional actions?
To pay a data room perused page is a dinosaur model! Today we use heavy files and plenty of them at that. We also need to have a large number of users on the software at the same time. Therefore, the modern way to price the service is through a monthly fee with unlimited usage and unlimited users accordingly! This is what we’ve realized at DiliTrust.
Get in business with the Data Room MVP
Don’t feel bad if you’re one of those who haven’t found the right solution yet. As mentioned, at DiliTrust we have done virtual data rooms for TEN YEARS. It was just recently we realized that the time to move into the future had come and gone. So we did something about it! A new version of our software was developed. Now with a paying model designed to give a higher value for the modern business, in a digitized world.
If you are like us and don’t want to stay in the past, come on board and adapt to the new era of digital!
Contact us today if you want to partake in one of our webinars, ask for a personal demo or if you wish to open a Data Room. Our highly specialized data room consultants are ready to help you, 24/7 – through phone support – in several languages!