Before the advent of virtual data rooms, when companies were sold or raised capital, the enterprise purchasing the company had to request documents on the business’s financials and history from the seller. The documents were kept in a secure location that the stakeholders could access to review the materials. Today, these information rooms have been replaced by virtual data rooms that make it easier to share and examine documents.

When you are preparing to launch your data room, it’s essential to consider what you need to include and who you will be sharing access with. Depending on where your company is at, certain files might be more important than others. For example, if your company has a solid track record, investors might require more detailed revenue and cost projections than if the business is still in its early stages.

Once you’ve decided on what to include in the file then organize it and upload it. Create a folder system that is suitable for your company and use consistent names to make it easy to find documents. You can also include metadata to provide more context to the files. Finally, group related files in subfolders to make it simpler for users to locate the information they require.

If you’re using the Pro version, you can assign access to users after you’ve uploaded all the files. You can select the document you want to grant access to and then choose the appropriate groups. Click on «Add another group(s),» if you’re required to add new groups.

http://dataroomreview.org/4-steps-to-launch-your-own-functional-data-room/