You’ll need to do an extensive amount of due diligence if you plan to get your business to the top with an initial public offering (IPO). The fundraising process requires lots of paperwork as well as an extensive examination of financial documents. A virtual data room makes it much easier to manage.

The first step is to set up a vdr structure and name conventions for files that will allow users to find what they’re looking for in the due diligence process. The majority of VDRs have a folder structure which can be easily customized to suit any project. They also offer features like dynamic watermarks and automated index numbers to track who has downloaded or viewed files.

Permission settings are yet another important step. Administrators can assign different level of access to groups or individuals dependent on their needs. They should also confirm the permission levels assigned using the VDR’s View as another functions for users.

It is crucial to choose a VDR service that is reliable. Choose a provider that provides 24/7 support via phone, email and live chat. Verify the customer service and response time during a free-trial period and read reviews on Capterra SoftwareAdvice GetApp and other reputable review sites. Look for a VDR that lets you access all their features during the free trial and does not require you to sign up or pay for credits prior to when helpful resources you can cancel.