A virtual dataroom (VDR) is an encrypted repository of documents that are often used during M&As, funding rounds, IPOs, and due diligence. Companies require a secure system to share sensitive documents with third parties such as contracts, intellectual property documents, or confidential financial data.
When you create a VDR it is important to consider the types of files and users you’d like inviting and allow access to. Depending on the type of business you’re in, different users will have different access levels, and it’s important that your software allows users to grant granular permissions.
On the page for managing users, you can create groups and assign permissions based on the role or membership. You can then ensure that the right people see the correct content. For instance, you can limit access to a particular folder to a specific group.
Another feature you should look for is an option to set up an FAQs section within your library of documents. This will help you save time during the due diligence process by addressing frequently asked questions ahead of time, avoid having to be answered again and again. It’s also a great way to keep the track of any new questions that might arise during the process, and ensure they are answered in a timely fashion implementation of acquisitions strategies to speed up the process. Sturppy can assist you in establishing an financial plan that is investor-ready for your business.
