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Whether you are preparing for an M&A, asset sale, ICO or any other type of transaction, the right virtual dataroom makes it possible to efficiently and securely share documents while easing the process of complex. FirmRoom VDR was developed by dealmakers to ensure the fastest and most effective outcome.
The first step in preparing a virtual data room is to organize documents and files. This means creating an organization structure for folders and labeling items with metadata that makes it easy for teams to find what they’re looking for. Create categories such as Finance, Accounting, or HR and create subfolders to allow files to be divided based on content type, type, or the scope. The virtual data room will be easier to navigate if you use consistent name conventions.
The next step is to implement a solid authentication mechanism should be put in place for all documents and users. It is important to encrypt data in transit as well as when it is at rest. All users should also be required to use two-factor authentication. For security and compliance, a strong audit trail is also required to track each login session and access to documents. To protect yourself, dynamic watermarks may be applied to every page of a document that is viewed or printed.
The final step in preparing the virtual room is inviting investors to access the information they require. This is usually done by providing each investor with an individual login and access permissions. Once all the required documents have been uploaded, investors can begin conducting due diligence.
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