A virtual dataroom (VDR) provides an secure storage space for and sharing documents online. They are commonly used for fundraising or due diligence. They also provide granular permissions.
Getting the most value from the benefits of a VDR requires having an understanding of the kind of data you’ll be uploading and how it will be organized. Start by laying out your desired outcome, like an investment recommendation, and then look backwards to determine the types of data that could be required for that final goal.
You’ll need to make an extensive list of all the various documents you’ll be sharing with customers, including legal documents such as articles of incorporation shareholder agreements, shareholder agreements and intellectual property filings and operational information like customer lists, supplier contracts and employee handbooks, as well as any market research reports or analysis of competition you’ve conducted. Don’t be a slave to any first-hand quotes from customers about their experiences with your brand.
It is also useful to include a section for Q&A, where investors can ask questions or leave comments. This keeps the conversation on track. It is important to select a tool with advanced commenting features that allow you to make notes on documents that other users will not view, and you can also create a centralized discussion space to help streamline communication.
Choose a solution that includes an activity log, so you can track how your data is accessed and ensure that everyone is adhering the rules for file handling. Consider using watermarks to decrease the risk of document theft and accidental alteration. You can also provide training materials that are simple to use to help new users become familiar with the platform.