A data room blog can provide the possibility of sharing and storing documents that adhere to strict guidelines for confidentiality. This includes granular access to documents based on the user’s role, document and folder levels as well as activity tracking. These features ensure all users have access to the information they need and that files not needed are removed.
A good dataroom will also allow you to upload and save large files with ease. Technical drawings, images and high-resolution files can be difficult to manage using cloud or email services. Some data rooms provide unlimited storage capacity, whereas others limit it based on the number of users or document types. It is a good idea to test the capability of the platform you select prior to starting to ensure that it can handle the amount of data you’re planning to upload.
Another helpful feature is the capability for personal notes to be added to any file that is stored in the dataroom. This can help you keep track of any questions you may have on the other side, and is especially useful in conducting due diligence during M&A transactions.
Finally, the best datarooms will also provide you with a complete list of all documents of incorporation for the company as well as bylaws. This will allow investors to quickly and easily determine any potential conflicts of interests which need to be assessed. It is a good idea to keep this up-to-date as your company grows and evolves.