A virtual data room (VDR) is a secure repository for documents. It is frequently utilized during M&A, funding rounds, IPOs and due diligence. Companies need a secure platform to securely share sensitive documents with third parties such as contracts, intellectual property documentation or confidential financial information.
When you are creating the VDR it is essential to think about the kinds of users and files you are planning to invite. Based on the nature of the business and the type of user you’re in, different users will have different levels of access, so it’s essential that your platform allows users to grant granular access rights.
You can create groups using the user management page and assign permissions to them based on role and membership, group or the folder or file. This allows you to ensure that the right people are seeing the correct content. For instance, you can make it so only a certain group has access to a particular project folder.
You should also consider the option to create a FAQ section in your document library. This will save you time during the due diligence process by answering frequently asked questions in advance and prevent them from having to be asked again and again. It’s also a great method to keep on top of any new questions that arise during the process and make sure they are dealt with in a timely manner to make your deal more efficient. To make your life even simpler, you can utilize Sturppy to develop an investor-friendly financial model for your company.
https://www.webdatahub.org/how-do-investors-make-data-rooms/