Right now, going green is going viral. Companies are constantly looking for ways to diminish their carbon footprint by ditching outdated business practices which are not considered “environmentally friendly”. Practices like the quarterly reports printed on paper, the lengthy plane trips to remote offices, and even the on-site board meetings have all become obsolete with dawn of the digital era.
Take for instance the process of an acquisition. A CFO prints the files and folders, ships them to potential buyers for necessary due diligence, flies the lawyer to the buyer’s location to confirm the contract, and sits back and hopes that every single page of those folders is present and accounted for. That is to say if you only share the due diligence obligations once. What if you have to share these files five or fifteen times? The process can become very daunting.
Did you know?
-Paper is the largest single component of solid waste, accounting for over 25% of waste sent to landfills and incinerators (after recycling). Among other problems, the decomposition of paper in landfills produces methane, a greenhouse gas with 25 times the heat-trapping power of carbon dioxide. - EDF + Business
-On a New York-to-Denver flight, a commercial jet would generate 840 to 1,660 pounds of carbon dioxide per passenger. That's about what an SUV generates in a month. - Gary Stoller, USA Today
-Aviation accounts for 1.6% of global greenhouse emissions currently. - Dan Milmo, The Guardian
-The results show that by 2020, large U.S. companies that use cloud computing can achieve annual energy savings of $12.3 billion and annual carbon reductions equivalent to 200 million barrels of oil – enough to power 5.7 million cars for one year. - Carbon Disclosure Project
The demanding process of due diligence is beginning to evolve. In order to save time, stress, and the environment, professionals have begun to shift their focus over to the many advantages of sharing files digitally. Enter the virtual data room.
A virtual data room not only allows a company to share information through a fast and secure medium, it allows a company to share information through an environmentally conscious one. By switching from the "old ways" of doing business deals to the streamlined and secure virtual data room you are not only saving in business spend but also helping the environment.