Beyond M&A: Alternative Uses For Your Virtual Data Room

Beyond M&A: Alternative Uses For Your Virtual Data Room

Most of us, at one time or another, have made a mistake when it comes to sending an email.

Perhaps you’ve made an error but pressed send too quickly, attached the wrong document, or emailed the wrong person entirely! The situation is usually more of an embarrassment than anything else, but the repercussions are more serious when confidential information is involved.

In March 2011, Maria Fernandes was on the receiving end of such an error. As Director of Client Services at a healthcare communications company in Ontario, she accidently received an email discussing whether or not she should be fired. The Director of Operations had intended to send the email to the company’s lawyers, but did not realize that Fernandes was also on the list.

In a panicked effort, the Director of Operations sent three (unsuccessful) recall notices, and an email to Fernandes directly, asking her to delete the message without opening it.

Too late! Fernandes read the email, treated the information as a constructive dismissal and hired a lawyer. She left the company a few weeks later and is now suing her former employer for wrongful dismissal.

The lesson here is that all of us should be much more careful when communicating sensitive information electronically.

Firmex customers are increasingly realizing the value of Firmex beyond M&A transactions. Firmex can also be used within other departments, such as Human Resources, which deal with highly sensitive information. Containing such information in a controlled, online document repository reduces the risk that it will be leaked, or fall into the wrong hands.

HR is just one of many departments in which Firmex can provide value. Customer feedback also indicates that Firmex is being used by IT, Marketing and Financial departments, to name just a few. Our virtual data room platform provides them with a secure location to store and exchange things like external vendor quotes & contracts, client briefs, design mockups, financial reports and audit documents.

With a subscription, Firmex customers can run an unlimited number of projects throughout the year for one fixed price. It therefore makes sense to use Firmex for a broad range of secure document sharing needs. For more information about upgrading to a Firmex subscription, contact our Sales Team.