If you’re looking to sell your business or raise funds, it’s likely that you have plenty of documents and information to provide potential investors. A virtual dataroom, also known as due diligence data room is an online repository that enables you to safely store and share information as well as documents with the right people, at the appropriate time.

The advantages of a virtual data room include:

Secure storage and sharing of sensitive information: A virtual data room allows secure storage and sharing of your data with multiple stakeholders while ensuring that you control who has access to what. This speeds up the due diligence process and reduces the likelihood of sensitive information being exposed.

Collaboration is improved by using a virtual data room enables team members to collaborate on projects even when they’re located in different locations. It’s also easy to manage access to the project and permissions, making sure that only those who are authorized to see the correct information.

An interface that is simple to use users will find it easier to get started by choosing a platform that has user reviews, a non-plugins GUI and is compatible with their software requirements. It is also important to choose one that offers 24/7 customer assistance so that you can receive assistance swiftly if you encounter any issues.

Choose the documents you’ll include in your data room. You’ll be required to include financial and legal documents, including financial statements, contracts and intellectual property documents. You should also include your cap table, which outlines how much of your company each investor owns.