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V-Rooms Tailors Virtual Data Rooms for Financial Audit Process

January 23, 2013

V-Rooms™ Virtual Data Rooms announced today that the number of Audit Firms who use their Private Cloud increased by 45% during 2012. With V-Rooms™ Pro, the latest upgrade to the V-Rooms™ Virtual Data Room, service continues to be tailor-made for the needs of outside financial consultants; audit firms will now be able to access all of their projects associated with an individual client using a single login, making multi-room access and control more efficient.

Audit firms will now have the ability to control access to their documents to only approved users and mandate confidentiality agreements before their financial audit themed dataroom may be accessed. In addition, the DataRoom Administrator can give conditional access to specific documents, allowing certain users to edit, view, delete or modify those documents and folders when appropriate. Also, V-Rooms audit reports provide an accounting of all logins and document history of who viewed, downloaded, and modified files. These detailed records are essential in meeting legal and compliance requirements.

“One of our key features for Audit Firms is our Dynamic Document Watermark.” said Dan Bradbary, CEO of V-Rooms™, “Clients of audit firms upload data into our V-Rooms™ private cloud — which is located outside the audit firm’s computer server firewall and meets the highest security certifications. When the audit firm downloads the information into their system, our Dynamic Confidential Watermark is stamped on each of the documents. This ‘time and user stamp’ then serves as documentation of the exact date that the information was provided by the client and which audit team member accessed it. The audit firm’s analysis is then based upon that exact moment in time.”

Prior to the utilization of secure virtual data rooms, confidential information was often emailed between third party auditors and clients. Numerous copies of these documents were often stored in various locations, making the management and security of this information difficult. With a V-Room, these documents are uploaded and organized in a central repository, with email notifications then instantly provided to the appropriate parties. With the release of the upgraded Pro format, V-Rooms™ expects to continue to see growth in its audit clients in 2013.

About V-Rooms™:

V-Rooms™ provides a cloud-based, customizable virtual data room (VDR) solution that is designed to streamline document management, collaboration, exchange and archiving for financial, legal and corporate professionals. The V-Rooms™ Software-As-A-Service (SAAS) secure document portal facilitates the secure exchange of sensitive information providing compliant and auditable transactions. V-Rooms™ enables the acceleration of complex, information-intensive processes while reducing the time and expenses associated with data distribution, courier, printing and travel. Additional information can be found at here.


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