How to Get the Most Out of Your Data Room Software

When most people think of a virtual data room (VDR), they picture M&A deals, but VDRs are used by any company looking to securely share documents. From pharma to IT every type of business can benefit from VDRs.

For instance in the case of a tech startup that is fundraising by pitching to investors, having a well-organized pitch deck as well as detailed financial projections can speed up the process. Your investors can conduct their due diligence, and will be able to see your costs estimates, runway and funding needs in a secure environment, with permissions managed at the document and folder level.

While granular access permissions are key for any VDR but you also need to be able to track and document the activity of your data room. With this feature you’ll be able see what each user has done with your documents and even monitor downloads of files, which makes it easy to enforce security policies.

The best VDRs have built-in tools which make it easier for teams to collaborate. Document annotation, Q&A sections as well as the ability to assign tasks are common in modern VDRs. This can significantly ease collaboration processes and improve the overall flow of deals.

A good VDR lets you create a simple and clear folder structure that is easy to navigate by everyone. A hierarchical structure using standard document names and an index can assist in this. Making a system that is easy to use will keep your team members organized and will allow them to locate the information they require quickly when they require it most.

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