A data room is a critical tool for ensuring confidentiality during M&A transactions. However the use of a data room is more than just storing and display documents. You should also ensure that your users can easily navigate and find the information they require. This article will give important tips to help you make the most of your data rooms.
The folders and documents should be organized: A well-organized folder structure is vital to maintaining a productive and efficient data room. Create a clear and consistent organization of your folders, which includes the names of folders and files which describe the contents of each document. Group similar documents in subfolders or topics to further organize your folders and make information more accessible to users. Consider using a data space that has a tagging or metadata feature to make it easier to categorize and search files by keyword.
Set permissions. Find out who has access to the top-level documents and folders. Investors, for instance may require access to financial documents as well as other documents that are related to an investment. In addition, you can control permissions based on the type of file like read-only or view and download access. You can also track access to data rooms through its activity log, which will let you know who has viewed what files and when.
Train users: Offer training materials that are simple to use and allow your team members to get acquainted with the functions of your data room. Certain data rooms also permit you to put watermarks on files to discourage sharing of files or leaks of information.