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CUSTOMER SUCCESS

Beacon Brokerage Business ChallengeBeacon Brokerage is a business brokerage firm that assists business owners of small to medium-sized businesses with the sale of their company and matching them with suitable buyers. They manage the end-to-end transaction on behalf of their clients, from business valuation, confidential marketing, to negotiation and close. Handling several transactions a year, Beacon Brokerage had managed much of their confidential document exchange by email. In response to their growing business and a heightened awareness of email as an unsecure and inefficient method for collaborating, they went in search of a more efficient way to securely exchange confidential documents with their clients and possible acquirers.

Effectively Manage Transactions from Start to FinishBeacon Brokerage had experience with virtual data rooms when they first decided to look at one for their operations. As part of their due diligence in choosing a provider, they compared offerings against a few key requirements – ease of use, security, support and price. Beacon Brokerage chose Firmex for its security, ease of use and affordability. “The Firmex Virtual Data Room is easier to use and that is important to our clients,” commented Alex Shteriev, Managing Director at Beacon Brokerage. “The Firmex pricing model was also simple, making it more affordable for our firm.”

Beacon Brokerage uses the Firmex Virtual Data Room to manage the entire transaction online. Clients upload confidential corporate documents for initial valuation and then Beacon Brokerage uses the data room to confidentially market the company for sale. Once a serious buyer is identified, due diligence and final negotiation documents are shared through the data room. Beacon Brokerage finds that using the data room instead of email not only streamlines the process but gives them more control over the deal to keep it moving forward. “It eliminates time wasted and duplicate effort to administrate the short comings of email for document distribution,” explained Mr. Shteriev. “I don’t spend nearly as much time coordinating the information flow between parties now.”

Firmex: Scale with Cost-Effective Document Exchange and CollaborationBeacon Brokerage is serious about delivering outstanding services to their clients. To do this, they use the Firmex Virtual Data Room as a part of their overall technology set to support their operations. By running all their transactions with the virtual data room they achieve operational effectiveness and differentiate themselves from other firms in their market. Although they don’t run a large number of transactions a year in comparison to larger investment banks, they employ the same technology strategies when it comes to securing their client’s confidential documents. They are able to use the virtual data room to support the deal and as a secure repository for client records management afterwards. “Our clients have more confidence in our operations when they see we use tools that secure the confidentiality of their business information and make the deal run more smoothly,” remarked Mr. Shteriev. As Beacon Brokerage sees growth in their business, they feel well positioned to scale their operations to capitalize on it.

“The Firmex Virtual Data Room is easier to use

and that is important to our clients. The Firmex pricing model was also simple, making it more affordable for our firm.”

Alex Shteriev, Managing Director at

Beacon Brokerage