A virtual data room (VDR) is an online secure platform for storing, sharing and reviewing documents. They are often used to conduct due diligence or for fundraising and offer access to granular permissions and version control.
To make the most of a VDR you must be aware of what kind of data will be uploaded and how it’ll be organised. Start by laying out the desired outcome, such as an investment recommendation, then look backwards to determine what kinds of data might be required to achieve that goal.
You’ll want to create an exhaustive list of all the documents you’re likely to be sharing and distributing, including legal documents such articles of incorporation as well as shareholder agreements and intellectual property filings, and operational information, such as customer lists and supplier contracts, as well as employee handbooks, in addition to any market research reports or competitive analysis you’ve completed. Include any quotes from actual customers who have had the pleasure of using your brand.
It’s also helpful to have a Q&A area where investors can ask questions or raise concerns which helps keep the discussion on track and productive. It’s essential to select a tool that has advanced commenting features. This allows you to take notes on documents without the other users viewing them, and will create a discussion area for communication.
It is recommended to choose the software that includes an activity log, so you can keep tabs https://dataroominfo.org/what-is-a-cloud-management-platform/ on how your data is being accessible and ensure that everyone is following the same rules for file handling. Consider using watermarks as a way to minimize the risk of document theft and accidental alteration. You can also offer training materials that are easy to use to help new users get familiar with the system.
