A virtual data room (VDR) is an online platform that is secure to store, share and examining documents. They’re commonly used to conduct due diligence or for fundraising, and provide access to granular permissions and version control.
To maximize the benefits of a VDR it is important to be aware of what kind of data will be uploaded and how it will be organised. Begin by defining what you want to outcome such as the recommendation to invest and then work backwards from there to identify the types of information that might be required.
You’ll have to create a complete list of all the documents you will likely to share as legal documents like articles of incorporation and shareholder agreements, operational information like employee handbooks, customer lists and supplier contracts, and any market study or competitive analysis you’ve conducted. Include any testimonials from actual customers who have experienced your brand.
It is also useful to have a section for Q&A where investors can post questions or post comments. This keeps the conversation in focus. It’s important to select a software with advanced features for commenting which allows you to take notes on documents that other users will not view, and create an centralized discussion area to facilitate communication.
Use a solution that features an activity log, so you can keep track of the access to your data and ensure that everyone is following the rules for file handling. You should also think about using watermarks in order to reduce the possibility of stealing documents or accidental alteration. Also, you should provide easy-to-use training materials and training sessions to help familiarize new users with the platform.
