It’s vital that your important documents are visit their website readily accessible to investors if they conduct due diligence, whether you’re conducting an M&A, closing a strategic partnership, or seeking to raise funds for your startup. Virtual data rooms allow you to do this while reducing the risk that sensitive information could end up in the wrong hands.
When you are setting up your VDR there are some steps you should follow to ensure that it is as efficient as is possible.
Keep the information in the VDR up-to-date. The inclusion of irrelevant information could cause confusion for investors which can lead to delays and potentially killing the deal altogether. To avoid this, you should create an index that lists all of the documents contained in the VDR, and maintain it throughout the process. This will ensure that the most up-to date information is always accessible to investors looking to invest and that any discrepancies are properly accounted for.
The organization of the VDR subfolders and folders logically to make it easier for users to locate and comprehend what they’re looking at. This can help avoid confusion during the due diligence process, and can also improve user satisfaction and efficiency.
Create an additional layer of security by insisting on two-factor authentication for access to the VDR. This will prevent hackers from leaking information, but it can also stop them from exploiting loopholes and weaknesses in the security system. In addition, you can add an additional layer of protection by implementing stealth mode that hides the activity of users and allows them access to the VDR without being discovered.