In an era that places an ever-increasing level of importance on information security, Virtual Data Rooms (VDRs) have become synonymous with document safety and data integrity. VDRs are quickly becoming the go-to solutions for businesses looking to ensure the protection of their business-critical files. However, what’s interesting to note is that very few data room users seem to recognize some of the other areas in their businesses where VDRs could really come in handy, notably on the marketing side.
Business brokers are one example that illustrates how VDRs are serving as an effective marketing tool. VDRs allow brokers to share business-critical information with multiple external parties without compromising the safety and comfort of their clients. By integrating VDRs into their overall marketing strategy and using their virtual data room as a virtual roadshow/pitchbook, business brokers are gaining a marketing advantage while also benefiting from better document access security.
Companies from a wide range of industries are also using VDRs to come up with unique and effective solutions that address their specific requirements. Newport LLC, one of Vault Rooms’ clients, serves as a great example of how VDRs can be used to enhance other areas of your business such as your marketing & recruitment processes.
How Newport is Using Vault Rooms to Streamline its Recruitment Process
Newport LLC, a strategic advisory firm that helps owners and CEOs of small to mid-size companies grow their businesses has been using Vault Rooms for the past 7 years.
In addition to using Vault Rooms to safeguard its business-critical documents, Newport also uses its data room to support their recruiting efforts. Newport has 13 practices across the country, each having a managing director who individually recruits additional partners. Using Vault Rooms allows Newport to maintain a homogenous recruitment process that ensures that all the recruitment candidates have access to the same information.
The firm has taken advantage of a Vault Rooms’ feature that allows clients to embed a video directly on the user landing page in the data room. Recruitment candidates are initially directed to a landing page (the Instructions page) in the data room where they can watch an introductory video featuring Newport’s CEO Kevin Poole talking about his decision to partner with Newport and the various benefits of teaming up with the firm.
According to Kevin Poole, Newport’s CEO, “Using Vault Rooms in Newport’s recruitment funnel structure not only streamlines their process of inviting and qualifying potential candidates, but also allows firm members to quickly check how far down the funnel a particular prospect is by reviewing his/her access history in the Vault Room.”
The introductory video serves as a starting point for Newport’s recruitment funnel. Prospects at this stage in the process have access to Level 1 of the data room which contains an NDA, a job description, and additional information about Newport. As prospects get more interested, they are added to the subsequent levels of the data room where they can access more information and go through additional screening.
Newport’s usage of their virtual data room as a recruitment tool is just one of the many ways Vault Room’s clients are streamlining processes and improving document exchange while also keeping a watchful eye on information security.
About Newport
Newport LLC is an elite national strategic advisory firm that helps owners and CEOs of emerging and mid-size companies grow and improve the performance of their businesses, often in support of a successful capital transaction or sale. Newport recognizes that being the owner or CEO of a business is a stressful job that involves making difficult, “bet the business” decisions, often alone. Newport partners with CEOs – as an advisor, board member, or interim member of their leadership team – to make and implement these tough decisions. Newport pulls CEOs out of the tactical fires of day-to-day operations by helping them think strategically about their longer-range vision and make the right decisions to achieve their objectives.
Vault Rooms – A Leading Virtual Data Room Provider
For more than 13 years, Vault Rooms has been an industry-leading cloud-based virtual data room provider, proudly facilitating tens of thousands of global M&A transactions across a wide range of industries. Business brokers, investment bankers, accountants, attorneys, private equity firms, and banks can safely collect, organize, share and track business-critical documents on the Vault Rooms platform 24/7/365.
