There are a number of Virtual Data Room providers in the world. Some are global with operations in multiple countries and clients in many more. Some are local; they only serve the country in which they have an office. The question is – can a global Virtual Data Room provider meet your local market needs just as well as a local Virtual Data Room provider who predominantly operates only in your region? Here are four factors to consider:
1 The internal does not care where you are in the world Internet systems make it the same to work across the desk or the ocean. Look around you. The work culture as we know it would not be the same if we were not all hooked on to the world wide web. From the time that we come to office to the time we go to sleep we are connected not just locally but also globally. Even when we are not sitting at our desk, the use of smartphones has ensured connectivity on the move. Would it really matter whether I am executing your request in the room next to you or whether I am working from my office in London, New York, Beijing or Mumbai? The minute I click a button the speed at which your request gets executed would be the same!
2 No need for physical presence through office when it comes to operations When all the Virtual Data Room providers processes are focused around a central delivery structure then there are multiple synergies that allow the company to save costs that can then be passed on to clients in the form of lower prices. For example, EthosData has its operational setup in London, New Delhi, Beijing and Madrid. However it has clients in over 20 countries. Through their four offices they are able to focus on service while saving costs that they would not have been able to save had they setup offices in all 20+ countries. As a result clients benefit two-fold – they get better prices while also getting better service through dedicated teams of professionals.
3 Sales personnel can be mobile One definite advantage of having an office in your city is that you can go visit the office, meet the people behind the scenes and put a face to the name. From a sales perspective a Virtual Data Room provider would try to build relationships by taking its prospects out for coffees or lunches, bringing in the interpersonal aspects of doing business. There is definitely an advantage when it comes to being referred but in terms of execution, if the data room provider is very process driven as it should be, it will not matter! EthosData actually has sales presence in more regions than operational presence to take advantage of both sales and operations.
4 More than location what is important is to understand the market and the culture Each market is unique in the way that it does business. Languages differ, the decision making criteria may vary and some markets might like more of a hands on approach from the Virtual Data Room provider while others might like to use the secure platform to do the work themselves with minimal involvement from the provider. A virtual data room provider that can understand these intricacies would do well irrespective of where in the world its operations are based.
A global virtual data room provider can adapt itself to meet local market needs. In fact it can excel in meeting the needs of local companies if it understands its culture and its way of doing business. A global provider actually has advantages over a local provider if it can benefit from synergies that lower its operational costs and then pass on these costs as lower prices for its customers. Are you using a global or a local provider?
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