If you’re planning on taking your business to the next level through an initial public offering (IPO) it is likely that you’re going to need to do lots of due diligence. The process of fundraising requires lots of paperwork and an extensive examination of financial documents. A virtual data room makes it much easier to manage.

The first step is to establish the structure of a VDR and file naming conventions that will make it easier for users to find what they’re looking to find during the due diligence process. The majority of VDRs have an organized folder structure that can be easily modified to fit any type of project, and they come with features like automatic index numbering and dynamic watermarks to track who’s been viewing or downloading files.

Another vital step is to establish permission settings. Administrators can assign different levels of access to individuals or groups depending on their requirements, and they can double-check that the proper levels have been assigned by using the VDR’s View As Other user function.

It is essential to select a VDR service that is reliable. Find a company that offers 24/7 support via phone email, and live chat. Verify the customer service and response time during a trial period of free trials and read reviews on Capterra SoftwareAdvice GetApp and other reliable review websites. Also, look for a vdr that allows you to utilize all their features during their free trial period and doesn’t require any credits or subscriptions https://vdrity.com/common-mistakes-beginners-make-when-setting-up-a-vdr/ before you can end your subscription.