Data rooms and global warming
What are the effects of business processes on the environment and how can data rooms help?
Today everyone already knows that our activity on Earth damages the ecosystem. That’s why humanity is trying to improve the condition of the environment by eliminating as many harmful factors as possible. But many causes still remain unnoticed merely because there are too many things to take care of.
One of such causes is the activity of business during due diligence, mergers and acquisition, IPOs, and other processes that involve meetings, discussions, and a lot of papers. Although there is one solution that allows companies to go through these activities causing as little harm to the nature as possible. And this solution is a virtual data room.
There are several negative causes that impact Earth during certain activities. And even though your data room will be hosted on a server that still creates a carbon footprint, using it you can lower the damage significantly.
Most discussions between businesses usually involve a lot of papers that participants have to review. To prepare them companies waste a huge amount of paper – this results in manufacturers taking down more trees. But it’s not just about woods and paper. Paper mills release loads of harmful gasses and waste enormous volumes of water. And once it’s used, mills release it into rivers and oceans polluting them. Thus, one package of clean paper for your documents creates quite significant damage.
Moreover, when printing the document, the printer releases elements that are harmful both to the environment and human health. Also, it consumes electricity, which is a damaging factor as well. But all of this is nothing comparing to the harm of printer ink and cartridges simply thrown into thrash. The ink contains a lot of chemicals that greatly damage nature, and cartridges are made of non-degradable plastic. Therefore, heavy metals and volatile organic compounds pollute the soil and water.
You can eliminate all this damage by merely using data rooms for keeping and sharing the documents. This technology allows you to never print another paper again as long as you live in a country that considers electronic signatures to be legit. With data rooms, you will be able to get ready for due diligence and other processes much faster because your documents already are available and structured. So you’re not just helping our planet but saving a lot of time and effort for yourself.
Obviously, if you are using physical papers, you need to deliver them to the third-party somehow. You could use mail, of course, but it takes too long for the post to deliver documents. You can’t really handle such delays in the modern rapidly moving world. Thus, the only option that’s left is traveling to the required location.
The further you need to travel, the larger your carbon footprint becomes. Even trains and ships that are considered to be the most ecological transport damage the environment. Cars and especially planes harm nature even more. We won’t even mention that airports, train stations, and all the infrastructure built to support the transport system is harmful as well.
So why damaging the planet even more if you can use a data room and transfer the documents securely while sitting in your office? This technology protects your sensitive information with military-grade encryption. Also, you’re totally in charge of who has access to documents, and what actions can users perform with them. Thus, you can be sure your papers won’t get stolen and used by someone who shouldn’t have access to them. Moreover, most data room providers implement two-factor authentication that eliminates the possibility of unauthorized access to the repository.
Therefore, using the data room you won’t only lower your carbon footprint by traveling less frequently. You will save a lot of time and provide your corporate data with better protection. As a result, you will go through deals faster, and your documents will remain perfectly safe.
What are the other benefits of data rooms?
Obviously, this technology was created to ease the document-related processes for businesses. And the ecological benefits are just a very pleasant bonus that should encourage you to adopt a data room.
This tool saves a lot of time and effort for companies by keeping the repository always available and structured. All you need to do before the new deal begins is to go through the papers quickly and see if you need to add something. If you keep the files updated, the preparation for the discussion will take minutes. Also, data rooms allow businesses to hold virtual meetings as everyone can access the needed information. Thus saves parties a lot of time and, of course, lowers everyone’s carbon footprint.
Additionally, data rooms offer many other useful tools such as comments and notes to documents users can leave to communicate their questions and needs to others. And the Questions and Answers section all virtual data rooms have accelerates deals by providing third-parties with the information they need.
Finally, most data room providers offer statistics of user activity and other valuable insights that can help businesses see the trends and improve the dealmaking processes to reach better goals. Some VDRs even have artificial intelligence implemented in the system. AI analyzes activities much better and can fetch entrepreneurs more structured and detailed data.
Of course, every provider offers many other functions that can improve the security of documents or accelerate deals even more. Each vendor has its own unique features that fit certain industries better. Therefore, every business can find a solution that suits its activity perfectly.
Using virtual data rooms, you may protect the environment by eliminating physical papers and travels. With data room technology, you can make your business more eco-friendly as well as structured. So if you’re still not using data rooms in your company, you should give this tool a try.