The first step to building a dataroom is to decide on the structure. Begin by creating a basic index to the deal such as “Finance,” then create subfolders and subjects to further organize your documents. This will help acquirers quickly recognize and comprehend the most important elements of your business. It is also recommended to use consistent file names to ease navigation.
Uploading your files is a breeze once you’ve determined the document structure. Many VDRs include bulk upload options that allow you to import hundreds of files in a few clicks. To make it easy to access to your files, smart search and built-in document viewer tools are also beneficial.
Another thing to consider is how you can manage user access. It is a great idea to create groups that can be given specific permissions to the documents within the group. It is simple to limit what documents can be looked at and for how long. You can limit the printing and editing of certain sensitive documents.
Throughout the process of fundraising, it is a good idea to send investors regular updates to the data room. This will show that you’re progressing and reaching your goals. Updates can include information about investor updates and milestone achievements, as well as new information that can be beneficial to the investor in due diligence. This could be a crucial step towards speeding up time to fund and reducing the amount of friction during negotiations. You can also add a section that includes references from customers and referrals to highlight your solid customer base.