Virtual data room provider Drooms has launched Drooms Online Archive – a ‘secure and sustainable cloud-based solution to post-transaction data storage’.
Following the completion of a real estate transaction the owner of a Drooms data room can track who has requested access to the contents of their transaction documentation, manage viewing access and unlock access to any sealed data once the legally compliant storage of it is no longer necessary.
By eliminating the ability to edit, remove or add documents to the online archive, transaction documentation is preserved for all future transactions or in the event of a legal dispute, removing the risk of security breaches and data leaks associated with physical storage.
Alexandre Grellier (pictured), co-founder and CEO of Drooms, said: “Despite years of discussion about the need for more digitalisation within the real estate sector, USB sticks stored in fireproof safes are still the standard practice after transactions have completed. With our digital Online Archive, our customers as well as lawyers and notaries will save money and increase efficiency in the future. The next transaction will then be just a click away, with all data stored according to the highest security standards and transaction times significantly reduced.”
Josephine Jakub, senior vice-president of global marketing at Drooms, added: “Physical data carriers such as USB sticks typically contain plastic and often contain environmentally harmful mercury. In addition to a welcome reduction in CO2 emissions, switching to the Drooms Online Archive to complete post-transaction processes creates significant savings of potentially 15 tonnes of electronic waste and environmentally harmful materials in Germany every year. And similar potential savings and reductions in CO2 emissions can also be enjoyed by other countries in the future.”
