A well-organized repository for your virtual files is essential for every business whether you’re trying to convince investors, closing an M&A deal, or sharing data with partners. Investors don’t have time sift through a messy document dump or deal with a variety of inconsistently formatted documents. They expect professional presentation of their sensitive data that is easy to read on any platform.
Follow these best practices to improve the process and give third parties the most accurate, up-to date information.
Uploading and organizing files
Utilize operating procedures to determine which dataroomus.com documents are stored in the VDR and how they are named. Being consistent with naming and folder structure makes it easier to manage and find documents. Tags and metadata provide context to documents and facilitate searching and filtering.
Permission Settings
Set permissions for various types (admins, corporate employees, clients, investors, etc.). to stop unauthorized access and improve the security of the repository. Fence view mode is a great feature if you have highly confidential or sensitive information. It prevents users from downloading documents to print them, saving them, or even taking screenshots.
Monitoring Activity
Ensure that you have an audit record that is tamperproof of the activities in your VDR by setting up custom reports that get sent to project managers in key positions on a recurring schedule. For example, FirmRoom provides reporting that includes comprehensive document analytics that make it easy for teams to monitor the level of engagement of users with the repository. This allows for a more efficient follow-up with stakeholders as well as streamlined communication.