A virtual data room (VDR) is an online platform that is secure to store, share and examining documents. They are frequently used to help raise funds or conduct due diligence and give an array of permissions.
To get the most out of a VDR, you need to be aware of the type of data that will be uploaded and how it’ll be stored. Start by defining your desired result, such as an investment recommendation before moving backwards from there to identify the types of data that might be required.
You’ll need to make an extensive list of all the documents you’ll likely have to share with customers, including legal documents such as articles of incorporation and shareholder agreements, as well as operational information like employee handbooks, customer lists and supplier contracts, as well as any market research or competitive analysis that you have done. Include any quotes from actual customers who have experienced your brand.
It’s also beneficial to have a section devoted to Q&A where investors can ask questions or submit comments. This keeps the conversation focused. It’s essential to select the right tool with advanced features for commenting. This allows you to make notes on documents without others viewing them, and will create a central space for communication.
Use a solution with an activity log so that you can monitor the access to your data and make sure that everyone is following the rules for file handling. You should also think about using watermarks to decrease the chance of theft or accidental alteration. You should also provide easy-to-use training materials and sessions to help ease newcomers to the platform.
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