If you’re preparing for a M&A or asset sale, ICO or any other kind of transaction, the right virtual dataroom allows you to efficiently and securely share documents while simplifying complicated processes. Made by go experienced deal makers FirmRoom’s VDR has the best practices to ensure the quickest and most successful outcomes.

The first step to creating a virtual data room is to arrange files and documents properly. This involves creating an organizational structure and labeling items with metadata that makes it easy for teams to locate what they’re searching for. Create categories like Finance, Accounting, or HR and create subfolders to allow files to be separated based on content type, document type or scope. By using consistent naming conventions and regular updates to the structure will help teams effortlessly navigate the virtual information room.

The next step is to set up an efficient authentication system for all users and documents. It is essential to secure information both in transit and when it is in rest. All users should also be required to use two-factor authentication. A robust audit trail must be maintained to record each user’s login and access to documents for security and compliance purposes. Additionally dynamic watermarks can be added to each printed and viewed page of the document for additional protection.

The final stage of creating an online room is inviting investors to access the information they need. This is typically done by providing each investor with a unique login and access rights. Investors can begin due diligence upon uploading the necessary documents.