When most people think of a virtual data room (VDR) they envision M&A deals, however VDRs can be used by any company looking to securely share documents. All types of businesses from IT to pharma can benefit from the benefits of a virtual data room.

For example, if your tech startup is raising money using a well-organized pitch deck and detailed financial projections can speed up the process. Your investors will be able to do their due diligence and view your costs estimates, runway and your funding needs in a safe environment with permissions controlled on a folder and document level.

You must be able to monitor and record every activities in your data room. Access permissions for VDRs are essential but you also want to know what https://www.yourdataroom.org/ma each user has done with your documents. With this feature you’ll be able observe what each user has done to your documents, and even keep track of downloads of files, which allows you to easily apply security policies.

The best VDRs come with tools which make it easier for teams to collaborate — document annotation, Q&A sections and the ability to assign tasks are commonly found in modern solutions. This can greatly simplify collaboration and improve the overall flow of business.

A good VDR can also enable you to set up an easy and clear structure for folders that can be quickly navigated by any user. A hierarchical structure using regular document names and an index will help you achieve this. A simple system can keep your team in order and help them quickly find the information needed when they are most needed.