Setting Up a Data Room

Before you begin setting up a data room, you need to determine which features are the most important. Choose a provider that has the right solution for your company. A good place to start is to locate providers that have an array of industry experience and customer testimonials. After narrowing your options, consider the cost. Most providers offer a variety of pricing options, including pay-per-user, per-GB and flat cost options.

Upload the most important documents such as presentations, files and documents to your data room, and then create an logical and easy-to-read folder structure. It is also important to name files and folders in a consistent manner to make them easily identified. Many VDRs provide automatic indexing which speeds up document searches and saves you time. You should be in a position to set user permissions that are specific so you can manage who has access to specific documents. For example HR employees might not require the same level of access to financial documents as CFO.

It is a good idea to keep an FAQ page on hand and respond to questions that arise during the due diligence process. This will help speed up the process and reduce the chance of misinterpretation and misunderstandings.

You can increase the security of your dataroom by placing watermarks to sensitive documents. This will reduce the risk of unauthorized downloading, document manipulation, and even the theft of sensitive information. It is also important to review activity logs regularly to maintain security and monitor use.

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