Admincontrol launches new webshop to meet customers’ needs
As we have learned to live with the pandemic, one of the main trends has been accelerated digitalisation – and the deals market is no exception. As a leading provider of data rooms for due diligence, we are now launching a new webshop to further speed up the process of digital due diligence and meet the customers’ demand for online sales.
We launched our first webshop at the beginning of 2020 before the COVID-19 pandemic hit, making us the first data room provider to offer a fully automated purchasing process. This has been key to serving our customers with instant delivery of data rooms and on demand at all times.
Head of Data Room at Admincontrol Mari Nygård says:
“As a result of the pandemic, our customers have started using the webshop quickly. In Q1 2020, only 3% of our sales were through the webshop, but within one year growth has been substantial and digital sales now account for close to 15% of total sales.
We are launching the new webshop to further speed up the process of digital due diligence and meet the customers’ demand for online sales. The webshop gives instant access to the data rooms and tools that we offer, such as the Folder Wizard for creating a folder structure and the Task Manager that facilitates the upload process.
In the future, we expect that up to 90% of our sales will be via the webshop, enabling us to serve a fast-growing customer base with the same speedy service that we have always provided.”
COVID-19 was a game changer
Nygård says that COVID-19 really was a “game changer.”
“We have seen that our customers are utilising all the solutions that Admincontrol offers that support conducting a fully digital due diligence process, such as”:
Here are some initiatives by Admincontrol that further simplify and digitalise the due diligence process:
1. New webshop
Our new webshop, which instantly generates your data room, will provide a better and more efficient customer experience. The new platform is better suited to meet the rapidly increasing demand for online sales. We will also be more flexible in making changes based on the customers’ needs and market trends. Local language and a 14-day free trial period for our preparation portal are some of the highlights.
2. Secure communication within the M&A team
At the beginning of 2020, we launched Secure Messaging. Secure Messaging is a messaging module in the data room that enables secure communication within each respective team. So, for instance, as a buyer in the data room, I could use the annotations function to highlight text in a document that I am working on and I could then share my notes directly with my relevant buying side team members. The dialogue in each team can never be accessed by other teams in the data room.
3. Folder Wizard: Optimised data room folder structure in only a few simple steps
Due diligence preparation in the data room is further simplified by our feature called Folder Wizard.
This unique feature enables the data room administrator to build a new folder structure inside the data room in just a few minutes. We can offer best practice templates, which have been created in collaboration with leading legal and financial advisors. The templates can be modified to suit your needs. You can also create your own template from scratch, in this easy-to-use and intuitive tool.
4. Task Manager for increased deal speed with automated workflows
Our newest feature is called Task Manager. The Task Manager is a workflow tool that enables an Administrator to assign and monitor the document upload and review processes in the data room. Users have a full overview and control of their assigned tasks. Easy and quick to use, you can assign and manage tasks with only a few clicks.
5. AI tool for legal due diligence
Furthermore, we have teamed up with the Artificial Intelligence AI provider Luminance to provide legal advisers with a fully secure and encrypted sync between Admincontrol and Luminance, so that they can use the Luminance AI tool in the process of legal due diligence.
Given the speed of software development, it will be exciting to see what will be available in ten, five or even one year from now.
“At Admincontrol, we will keep working to simplify due diligence though digitalisation of every step of the process, constantly focusing on product development and meeting our customers’ demand for online sales. And, despite the focus on digitalisation and efficiency, we still offer all our customers world-class 24/7 support and a dedicated Client Manager for each project”, says Nygård.
Get started today with a data room from our webshop!