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A virtual data room can be a great way to keep sensitive information together in a single place that is controlled by an administrator. You can upload documents and other files that can be shared with potential investors or the buy-side to review – making processes more efficient and speeding up the due diligence and deal-making processes.

A data room is usually used in the due diligence phase of M&A transactions, where both parties review business-critical documents and negotiate the terms of the transaction. It is also possible to use a Data Room to conduct legal proceedings, equity and funding transactions, or any other transaction that requires confidential information.

The majority of data rooms have several templates that can be customized to fit the kind of transaction you’re executing. This allows you to create a folder structure using names for documents that reflect the specific project and make it easy for users to find what they require quickly. You can create a new folder called « financial info » and subfolders for documents like contracts or accounting reports.

In addition to the already-built templates and folder structure In addition, a good VDR solution will provide an array of reporting tools that let you keep monitor and monitor the usage of your data room. This is particularly important when your data room has been opened to a third party, because it gives transparency and accountability of who’s uploading what documents and when. Look for a company that provides this set of reports and also ongoing technical assistance and account management, which should be available 24 hours per day, 365 days of the year.