Best Practices for Data Rooms

A well-organized digital repository is crucial for any business whether you’re making a pitch to investors, closing an M&A deal, or sharing data with partners. Investors don’t want to sift through a messy document dump or deal with inconsistently formatted files. They want professional presentation of their sensitive information that is easy to read on any device.

Follow these best practices to streamline processes and provide third parties the most accurate and up-to date information.

Uploading and Organizing files

Utilize operating procedures to determine which documents should be placed in the VDR and how they should be named. The consistent folder and name structure aid in the search for and manage documents. Tags and metadata also add context to documents, facilitating searching and filtering.

Permission Settings

Create permission settings for various kinds of users (admin corporate employees clients, investors and so on.) To stop unauthorized access and enhance the security of your repository. If you have sensitive or confidential information, a fence view mode is an excellent option to prevent users from downloading, printing scans, saving, or taking screenshots of specific documents.

Monitoring Activity

Be sure to keep an audit log that is secure from tampering the activity of your VDR by setting up customizable reports that are emailed to key project managers on a regular basis. For instance, FirmRoom provides reporting that includes comprehensive document analytics which makes it easy for teams to track the amount of interaction with the repository. This enables better follow-up with stakeholders and streamlines communication.

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