If you are preparing for an investor due diligence process, or simply digitising internal files to share files and storage, the right data room blog can significantly cut down on time spent documenting. Data rooms help businesses focus on their job by removing the complexity of email and providing granular access.
The best online data room offers a variety of features to meet your requirements, from security to the control of versions and templates for the types of documents you want to share. Some of the most advanced options include AI or machine learning tools that can automatically scan and analyze complex or lengthy documents, highlighting possible issues or deal-breakers. This can speed up the amount of time required for human review and accelerate due diligence.
In addition to standard information in the data room, such as LOIs, NDAs and CIMs, some data rooms will allow you to add other documents that are specific to your company. For instance, you might want to include a document that contains references to customers and referrals, or a deck that demonstrates your company’s brand and marketing strategy.
Some founders will also have the market information section that can help show that you know the market that you work in. This can include any first-hand research and analysis of the industry as well as competitive landscape and regulatory environment information that you might have. You might also wish to include your roadmap for development of your product and any other documents that can aid in the fundraising process.