Delivering smart, secure data rooms

Executive summary

HighQ was the solution of choice when leading UK law firm Shepherd and Wedderburn sought a best-in-class, off-the-shelf solution to create virtual data rooms (VDRs) for property and corporate transactions, replacing its in-house system. The firm, which has five offices across the UK and in Ireland, needed a solution that users could adopt quickly, deliver the fundamental requirements of data rooms effectively, and provide additional features and functionality they could leverage. HighQ is simple to use yet delivers a superior user experience, essential for internal engagement and presenting a professional interface to clients and other external parties.

The challenge: Identifying a suitable off-the-shelf solution

Originally, Shepherd and Wedderburn had built its own bespoke system to create data rooms for storing documents and presenting property and corporate transaction information to clients and counterparties. As the firm’s strategy and expectations around technology evolved, its focus shifted to purchasing off-the-shelf products where mature, best-in-class options were available, making best use of its limited technical resources. When the firm needed more capabilities in its data rooms, it began looking for a ready-made solution that offered additional features and was easy for both builders and users to adopt. Given the firm’s existing relationship with Thomson Reuters as a subscriber to Westlaw UK and Practical Law, it made sense to consider HighQ in its product evaluation process.

The outcome: A joy to use

HighQ delivers a pleasant user experience. For Dalgleish, “Thomson Reuters has put a lot of effort into making enterprise apps like HighQ more of a joy to use. The fact that the user experience is high on their agenda is a positive, especially since we’re presenting these data rooms to our clients.” Features such as its watermarking functionality, the detailed audit trail showing who has accessed which content, and its collaboration tools are among the highlights.

Crucially, HighQ integrates seamlessly with the firm’s document and matter management systems via application programming interfaces (APIs) to ensure files are always complete and accurate. New data rooms can be created directly within the systems people use every day, rather than having to go into HighQ itself. This option makes the process easier to understand and control. Lawyers can create their own data rooms based on pre-approved templates, having filled in a dynamic request form. “So, it’s very easy for people in our business to create HighQ sites in the way we want them to operate, without needing to train them, and allows us to retain control and manage risk,” says Dalgleish. Overall, he is impressed. In his opinion, “HighQ is a good, solid solution, and it can do a lot of things in a way that can suit your firm.”