When most people think of the term “virtual data room” (VDR), they picture M&A deals, but VDRs can be used by any company looking to securely share documents. From IT to pharma every type of business can benefit from a VDR.

For instance, if your tech startup is fundraising using a well-organized pitch deck with detailed financial projections can help accelerate the process. Investors can conduct their due diligence and review your costs as well as your estimated runway and the funding requirements in a secure environment that has permissions set at a document and folder level.

While granted access rights are vital for any VDR, you also need to be able to track and record data room activity. This feature allows you to track the downloads of files and also track what each user did with your documents.

The best VDRs include tools built in that allow teams to collaborate — document annotation, Q&A sections and the ability to assign tasks are all commonly found in modern solutions. This can significantly ease collaboration and improve the overall flow of deal transactions.

A click for more info reliable VDR allows you to create an easy and clear folder structure that is easy to navigate by all users. This can be accomplished by having a hierarchical structure including standardized names for documents and a master index. Creating an easy-to-use system will keep your team members well-organized and help them locate the information they require quickly when it’s needed most.