Atlanta, GA (Vocus/PRWEB) February 04, 2011
V-Rooms™, a leading Virtual Data Room (VDR) provider, is offering its Canadian clients free data upload services to save costs associated with Canada’s new metered Internet usage laws, referred to as Usage-Based Billing (UBB). Clients may simply mail their files on CDs or DVDs to the V-Rooms staff, which will then upload their data for free, saving clients money in not exceeding bandwidth caps.
With UBB, Internet Service Providers (ISP) may provide end users with a very low upload/download cap, and charge them as they exceed that allowable amount. Monthly caps recommended have been as low as 25GB. For users who are viewing hundreds, possibly thousands, of documents and files in conjunction with a merger and acquisition (M&A) transaction, the bandwidth may easily be exceeded.
For those Canadian companies who are involved in cross border transactions, V-Rooms provides for a significant cost savings since the V-Rooms servers and ISP are located within the U.S. Therefore, when these documents and files are accessed by non-Canadian based end users, the bandwidth limitations do not even come into consideration.
“We are offering this free data upload service for our Canadian clients. However, we feel that the costs associated with UBB upload/download bandwidth caps will prompt some companies to move technologically backward, relying on paper, fax and courier services to exchange sensitive information. Actually, a new company is offering to download information, burn CDs and ship to their Canadian customers," said Dan Bradbary, CEO of V-Rooms Virtual Data Rooms. “In reality, this type of data bandwidth restriction will tend to push business out of Canada into other countries, such as the U.S., where these restrictions do not exist. We just want to help our clients save money wherever they are located.”
In this era of the internet, when information sharing is at the touch of a button, the dilemma is how to keep sensitive corporate information confidential. With the current Wikileaks situation, having comprehensive document control features and audit trails will provide even more accountability in complex business transactions, and go a long way in controlling “data leakage”. The enactment of the Canadian UBB laws will be counterproductive to the handling of sensitive information and will be a technologically backwards step in the online sharing of corporate information.
Due Diligence Online, LLC (800-731-6379). V-Rooms provides a privately-branded online virtual data room solution, designed to streamline document management, collaboration, exchange and archiving for Investment Banking, Financial, Legal and Corporate professionals. Our document repository facilitates the compliant and auditable exchange of sensitive information to accelerate complex, information-intensive processes, while reducing the time and expenses associated with data distribution, courier, printing and travel.
# # #