Best Practices for Data Rooms

If you’re pitching investors or closing an M&A deal or sharing information with business partners, having a well-organized online repository can make a huge difference. Investors don’t want to sift through a messy document dump or deal with uncoordinated formatted files. They expect a clean professional presentation of sensitive information that is easy to browse on any device.

Follow these best practices for streamlined processes and provide third parties the most up-to date information.

Uploading and Organizing Files

Use operating procedures to decide which documents are to be placed in the VDR and the way they should be named. The consistency of naming and folder structure makes it easier to manage and locate documents. Tags and metadata also add information to documents, facilitating searching and filtering.

Permission Setting

Set permissions for different kinds of users (admins corporate employees investors, clients, etc.). To block access to the repository by anyone else, and enhance the security of your repository. If you have sensitive or confidential information, a fence view mode is an excellent option to prevent users from downloading, printing scans, saving, or taking screenshots of specific documents.

Monitoring Activity

Create customizable reports that can be delivered to project managers regularly. For example, FirmRoom provides reporting that includes detailed analytics for documents which makes it easy for teams to best practices for data rooms monitor the level of engagement of users with the repository. This helps to ensure better follow-up and more efficient communication with the all stakeholders.