Three reasons why Life Sciences firms are active data rooms users

Jun 7, 2011 - by Elizabeth Caley

Tightening FDA approval standards are pushing Life Sciences firms to make even further investments in technologies that support secure document sharing with multiple parties.  At Firmex, our life sciences clients continue to open more data rooms and use more bandwidth and storage than any other industry segment.
The Life Sciences industry includes organizations involved in pharmaceuticals, biotechnology, medical devices and clinical research, all companies with highly capital intensive development pipelines.  To be successful, these firms must fill their pipelines with a steady stream of potential products from a range of R&D efforts, knowing that only a few will become commercial successes. 

We asked our Life Sciences clients to explain why they are such active users of data rooms, and here is what they told us: 

Audit Firms Turn to Virtual Data Rooms to Help Improve Audit Process

Apr 12, 2012 - by Debbie Stephenson

Disappointing results from a recent inspection report by the Canadian Public Accountability Board (CPAB) are driving audit firms to find new solutions that challenge the traditional audit process.

The CPAB, which oversees the work of Canadian audit firms, said it was “disappointed” in the progress being made on improving audit quality. Its concerns were directed toward both smaller regional firms and the “Big Four” national accounting firms, which audit about 94% of Canada’s publicly traded companies by market size. CPAB found deficiencies between 20 -26% of the audit files it reviewed at the Big Four firms and 47% of the audit files it reviewed from 10 smaller firms.

Generic vs. Specialized Document Sharing in the Cloud

May 9, 2012 - by Phil Adrien

There has been a lot of buzz around the new entrant into the cloud-based document sharing space with the recent announcement of Google Drive. But not all cloud-based document sharing is the same. Specialized document sharing solutions address a fundamentally different set of business problems than a generic document sharing solution does.  So where do generic document sharing solutions end and specialized document sharing solutions begin?