When you begin to set up up your dataroom, determine the first documents that will be uploaded. Also, determine the people who need access to the information. Then, structure your data room accordingly. Use folders to organize related documents together and indexing to help users to locate files based on keywords or metadata. Also, ensure that you include a version control feature in your data room (standard with PandaDoc) to ensure that users work with the most recent and accurate version of every document.
Consider adding a Q&A space to your data space where you can address frequently asked questions from potential investors. This can help speed up the process of negotiating. This feature is particularly useful when dealing with a lot of potential investors as it makes the entire due diligence process much more efficient for all involved.
Another way to improve the efficiency of your data room is to make use of its auditability features, which permit you to know who has been looking at what and when. This can be extremely helpful in terms of project management as it lets you monitor the progress of each document and find any areas that need attention. For instance, that a user is examining your document multiple times. This could be a sign of caution and indicate that the user does not comprehend the content. You can use this information to resolve any issues quickly and negotiate a better price.