If you are working with a Virtual Data Room provider that offers you a dedicated team for your Data Room then you have a huge advantage. The question however is do you need to pay extra to get the privilege of the team’s support? At EthosData, we consider ourselves a service business, not just a technology company. Here are service related questions you should be asking any data room provider:
What kind of service is it?
Is it only technical or can you send everything to your data room provider? We recently started another life sciences transaction. The advisor to the client requested us to redo the way the data room was organized on Friday night. We pooled our resources together and had everything executed by Monday. When you are dealing with 3000+ documents you will be thankful that you have a dedicated team to help you save time and speeden up the process.
Will you be dealing with one person or many?
A central point of contact is important. We call them deal coordinators. He is the person who does the initial kick-off call with you to understand your specific needs and customizes the virtual data room to meet your requirements. However one person cannot work for 24 hours a day! So at EthosData we assign a team of deal coordinators. Each deal coordinator is privy of the particular data room because of the way we manage information internally, through a central communication system. When our clients call at day or night, it is easy for the deal coordinator in charge to immediately execute the request, usually within a time frame of 15 minutes.
How easily reachable is the support team?
What is the point of having a team to service you if they are not easily reachable? At EthosData, each member of the team shares their personal phone numbers so that they are reachable at all times. We have an office number that can be called and we have a live chat facility if you prefer that mode of communication.
Do you need to pay anything extra? If so how much?
Being a service company requires us to work with our clients at all times. Some virtual data room providers charge for requests. We at EthosData do not. We sell our product as a package which includes an award winning software that will help you maintain confidentiality on the documents you share online and you get a dedicated team of experts who come with the experience of working on hundreds of data rooms that are used to sign multi million dollar deals.
Is support multilingual?
We live in a global world. Chances are that your bidders will speak different languages. EthosData’s service offers support in 15 languages.
Is support global?
Global support means that when users are working on different time zones, they should still be able to access a Virtual Data Room deal coordinator at anytime. At EthosData they can. We work around the clock to service the North American, European and Asian markets.
Conclusion
Service is an aspect of data rooms that is overpublicized and underdelivered. It can actually be the defining advantage of a virtual data room provider. An outstanding service team will not only be always reachable but will also be overly helpful to the point that it will save you hours in a day that you can then use to work on more productive tasks.
EthosData has won many awards, primarily because of its service. Its most recent award was for being The Best Virtual Data Room Provider in the UK, Spain and Asia Pacific Region.
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