If you’re like me, you never seem to understand why friends stay in bad relationships. It becomes evident to everyone on the outside that it’s run its course, but the couple just can’t seem to part ways. We tell ourselves we would never do the same, right? Or would we?
Every once in a while, something is said about business that’s so on point that it’s hard to phrase it in any other way. In this case, it’s KPMG with their recent report “The digital transformation imperative.” The consulting firm writes:
The worldwide virtual data room (VDR) market is expected to more than double in size to nearly $1.9 billion by 2022, this according to MarketsandMarkets. Driven by a combination of robust M&A activity, technological improvements and changing business practices, these highly secure systems for storing and managing sensitive data are streamlining how transactions are conducted.
In 2017, the number of data breach incidents in the U.S. hit a record high of 1,579 breaches (ITRC). This number indicates a nearly 44% increase over the record high figures reported for 2016. The best method of preventing a data breach is to ensure your data is adequately secure. Many businesses, however, make the mistake of sharing and storing sensitive data via email or other cloud services that do not guarantee encryption. It’s not surprising, then, that these unsecured spaces have become easy targets for hackers. It’s currently estimated that the average cost of a data breach in the U.S. is $3.62 million, a staggeringly high figure that should make any business wary of a cyber attack.
Expect big things in mergers and acquisitions through 2018. This is the word from Deloitte, which surveyed more than 1,000 executives to get their sense on these types of corporate activities. In fact, according to the report, nearly 70 percent of executives of U.S.-based companies expect deal flow will top 2017’s numbers.
Is the virtual data room on its way out?