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Best Practices for Data Rooms

A well-organized virtual repository is crucial for any business whether you’re making a pitch to investors, closing an M&A deal, or sharing data with partners. Investors don’t have time to sift through a maze of documents or deal with files that aren’t correctly formatted. They want a clear professional presentation of sensitive information that is easy to read on any device.

Follow these best practices to streamline processes and provide third parties the most accurate, up to current information.

Uploading and Organizing Files

Use operating procedures to decide which documents should be put in the VDR and how they should be named. Consistent folder and name structures help you locate and manage documents. Tags and metadata provide the context of documents and help with searching and filtering.

Permission Settings

Set permissions for various types (admins, corporate employees investors, clients, etc.). to limit access to unauthorized users and increase the security of the repository. Fence view mode is a wonderful feature to protect confidential or sensitive information. It prevents users from downloading documents to print them, saving them, or even taking screenshots.

Monitoring Activity

Create reports that are customizable to be delivered to project managers regularly. FirmRoom is one example. It provides detailed document analytics in its reports which makes it easy for teams best practices for data rooms to monitor the involvement of users in the repository. This allows for better monitoring of stakeholders and speeds up communication.

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