Project at a glance
Little Venice Partners (LVP) decided they were in need of a secure virtual data room, after a data breach revealed a partner’s private documents where being shared with a client via Dropbox.
The requirements
The solution needed to function as LVP’s virtual data room for M&A transactions. As LVP manages global projects involving many firms at a time, it needed a solution that provided seamless and secure sharing. Additionally, LVP needed to ensure that when a firm’s involvement in a project ended, their access to sensitive files was revoked. Finally, ease of use was also a top requirement as there would be no time for training new firms joining a project.
The solution
LVP began testing a number of secure alternatives to replace Dropbox. Unlike most mainstream products, secure collaboration services are difficult to integrate into a business’s day-to-day operation. Deployment requires technical expertise, and employees struggle to stay productive as they adapt to a less intuitive service.
After trying a number of products and a recommendation from a business partner, LVP chose Tresorit. It proved to be easier to use, only costs a fraction of the price of a traditional data room, and doesn’t come with IT overhead.
The implementation
Within minutes of registering for Tresorit, Robert and his associates started sharing documents between several firms. And as it takes only minutes, LVP’s business partners experienced no difficulties installing and using Tresorit. LVP retains total control over its deal documents thanks to Tresorit’s permission levels and access policies.
"After one of the partners’ Dropbox accounts was compromised, switching to Tresorit couldn’t have been simpler for us. Their customer service is some of the best I’ve ever experienced." Robert Frodsham – Little Venice Partners
The results
Since switching to Tresorit LVP hasn’t experienced any threat to its data, and is able to work with clients confident that its data is shared and stored securely.
The firm has saved a lot of money by reducing its average data room cost of about 600 EUR per user to a fraction of that price using Tresorit as a data room for their M&A transactions.
LVP is currently handling a highly complex merger and acquisition transaction. The deal involves nearly a hundred individuals from several consulting and legal firms. With Tresorit’s security, LVP feels safe that files can no longer be accessed and distributed after the transaction is over.
