The first step in constructing the dataroom is deciding on the structure. Create a folder index for your primary folder for example “Finance,” and then create subfolders or topics in order to organize your documents. This will allow the buyer to quickly recognize and comprehend your key business components. It is also recommended to use consistent file names for ease of navigation.
Once you have determined the document structure, uploading your files is simple. Many VDRs offer bulk upload capabilities which allow you to upload hundreds of files with a few clicks. Smart search and document viewer tools can also be helpful for easy access.
Another consideration is how you will control access to users. It is recommended to create groups, which can be granted specific permissions to the documents within the group. It is easy to limit what documents can be being viewed and for how long. You can restrict printing and editing of certain sensitive documents.
It is a good practice to keep investors informed about the fundraising process by providing them frequent updates via the data room. This will let investors know that you’re making progress and achieving your goals. Updates can contain investor updates or milestone accomplishments, as well as any new information that could be helpful to the investor during due diligence. This is an important step towards speeding up time to fund and reducing friction during negotiations. In addition, you can include a reference section for your customers and a referrals section to highlight your client base’s strength.
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