SUMMARY
An Indian conglomerate with businesses across industries, such as engineering, construction, power, hospitality, healthcare, fertilizers, and real estate, was looking for divestment. As this move was a resolution prospect for insolvency, the client needed to share sensitive and proprietary business information with many parties, including thousands of stakeholders, auditors for due diligence, and potential buyers. Our virtual data room (VDR) helped those involved exchange data without ever compromising on data security and compliance throughout the process.
“They have a very good customer support system in place. The team helped us at every step in the process. The platform offers military grade security and encryption.”
– Associate at the auditing firm (Big four financial institution)
CLIENT REQUIREMENTS
The conglomerate was looking for divestiture with the sale of its non-core assets to manage its portfolio, reduce debt, and counter insolvency. The client had roped in one of the big four financial institutions for due diligence to find potential buyers. As a requirement, the client had to share highly sensitive business information with them. Apart from that, the conglomerate also needed to provide potential buyers and other parties involved with access to this data. The communication and data exchange had to be secure and simplified.
CHALLENGES IN DATA SHARING & COMMUNICATION
- The client had over 50,000 stakeholders who required access to the data, including the insolvency resolution plan
- Since the client’s businesses are across different industries, the data was not organized and not in a central location
- As the client was already under financial pressure, they required the solution to be economical
- Additionally, as per data regulations, the client required the servers being used for data upload and sharing to be based in India
BENEFITS OF FIRMSDATA VDR
The client chose FirmsData as its virtual data room provider for data sharing and communication between all the individuals and organizations involved.
Following are some reasons why FirmsData was the stand-out solution for the conglomerate:
- FirmsData enabled the client to set limits on views, shares, printing, and downloads for each of the 50,000+ users quickly and easily
- Features like bulk uploads for files and folders, drag and drop functionality, and support for multiple file formats helped the client organize data
- The consumption-based price model is cost-effective
- FirmsData’s use of India-based AWS Virtual Private Cloud fulfills the data localization requirements under the Data Protection Law in India
RESULTS OF THE ENGAGEMENT
FirmsData helped the client share the data with a massive number of stakeholders while ensuring data security and confidentiality. As a byproduct of the engagement, the client data is in an organized form and a centralized location.
