Setting Up a Data Room
If you’re in the beginning stages of raising capital or trying to demonstrate the viability of your business during due diligence with potential investors, establishing the data room is vital. We’ve observed that companies that attract investment have a convincing pitch deck and a well-organized and accessible data room.
The most important aspect of setting up a data room is structuring the documents and folders in a manner that makes it simple for buyers to comprehend what they’re looking at. This may include creating an index, or a table of contents that defines the main folders in your data room (such as “Finance” and “Marketing”). You’ll need to create subfolders in these sections that organize documents in a different way according to topic. This makes it easier for buyers to find the information they’re looking for and accelerate the overall due diligence process.
Additionally, you’ll need to ensure that you’ve included a section that focuses on the current customers of your business as well as references. This will help potential investors see the traction of your customers and will show that you’ve made headway in your market.
Once you’ve created the design of your data room, it’s now time to start inviting users. You can do this by using the User Management section on the Manage your Data Room page. Secure virtual data rooms have granular permission settings that allow you to invite users with the specific access rights they require to access documents. This is a major benefit over physical data rooms which require that everyone are present at the same time. They can only be accessible during office hours.
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