If you’re planning on taking your business to the next level by way of an initial public offering (IPO) it is likely that you’re going be required to perform plenty of due diligence. The process of fundraising requires a lot of paperwork and an in-depth examination of financial documents. A virtual data room makes it much easier to manage.
The first step is to set up an vdr and file name conventions that make it easier for users to locate the information they need during due diligence. Most VDRs have a structure for folders that is easily customizable for any project. They also offer Web Site features like dynamic watermarks, and automatic index numbering that allows you to see who has downloaded or viewed files.
Another important step is to set up permission settings. Administrators can assign different levels of access to particular groups or individuals in accordance with their needs and double-check that the right levels have been assigned using the VDR’s View As other user function.
It is crucial to choose a VDR provider that is reliable. Find a company that offers 24/7 support via phone email and live chat. Review their customer service and response time during the trial period that is free, and read reviews on Capterra, SoftwareAdvice, GetApp and other reputable review sites. Also look for a vdr which allows you to make use of all their features during the trial period and doesn’t require any subscriptions or credits until you are able to cancel your account.