Corporate finance consultancy BrightOrange assists businesses in selling and buying companies, with mediation and in judicial proceedings. Consultant Kim Berger and her colleagues used a competing virtual data room, but in 2018 they switched to Virtual Vaults. The main reason for this, according to Berger: “The simplicity and the 24-hour support.”
Preference for Virtual Vaults
BrightOrange previously used a competing virtual data room. Not always satisfactorily, says Berger. “We weren't keen on the interface and the functions were hidden behind numerous clicks. Furthermore, the working language was English only. It therefore wasn't user-friendly.”
BrightOrange started to look for a new provider, and discovered Virtual Vaults. Berger: “We wanted our customers to be affected as little as possible during the process. The data room we were looking for had to open quickly and all parties must be able to understand it easily. And, of course, it must also be secure and reliable. Our customers have to feel confident about handing over their confidential data to us. Virtual Vaults offered us this solution. We still offer the other data room, but our clients now also prefer Virtual Vaults because of its simplicity and user-friendliness.”
With a small deal team, BrightOrange works closely with its clients. The consultancy firm is known for not publishing any of its deals. Berger: “We guarantee our customers complete confidentiality. Many business owners consider this to be very important because they don't want staff or customers to be aware of the potential sale. Unlike our competitors, we publish nothing about the deals, which includes information about the value of the deal. This helps to prevent our customers from being harassed by asset managers, banks and 'new friends'. ‘Privacy first’ at BrightOrange.”
A perfect match with Virtual Vaults, in that privacy also comes first. Berger: “Virtual Vaults handles customer data very carefully, just like we do. “Safe, secure and simple, just like us” We secure all our IMs using SMS code to prevent unauthorised opening and we never share customer data before the NDA has been signed. We like to keep it simple for our customers, so that they understand what we are doing. As Johan Cruijff said: “Nothing is as difficult as keeping something simple.”
As a partner of Virtual Vaults, BrightOrange offers its customers access to the data room through its own website.
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