If you’re planning to sell your business or simply conduct M&A due diligence, using a virtual data room makes the process much easier and safer. You can also keep control over sensitive information and intellectual properties. It is crucial to configure your VDR correctly to minimize dangers.

The first step to setting up your virtual room is to determine the type of documents and files you will upload. Some of these documents may already be digitally scanned, while others will need scanning before uploading. No matter what, you should be sure to create a sensible file structure and use an online data room with document versioning to ensure the files are all up-to date.

You’ll then have to compile a list of those who will have access to your deal rooms. It is important to consider the requirements of each user and limit access to what they need. Investors in your company may only require access to financial documents and financial dataroomdirect.info statements relating to possible investments. Therefore, you will want to make use of a virtual room that has user access rights that are granular.

Consider the way your virtual deal rooms will be accessed and choose a vendor with a user-friendly interface, which is easy to navigate and use in multiple languages. It is also important to make sure that you choose an option with flat-rate pricing options that are either monthly or annually, and include unlimited storage and users. This will save you from paying for data overage charges and other fees.