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The design of your data room will allow you to ensure a successful project. The most important factors to consider are the user interface, file size/type limitations and the storage. Also, check out the auditability and compliance features of the service. Compliance features lower the risk of fines as well as legal actions, and even the closing of your company.

The way the data room is indexed and organized is another factor to consider. The way files are organized and named, and the format in which they are uploaded will greatly impact how easily they can be found later. For instance, separating text documents into PDF format and financial documents into Excel will make it easier to view and editing the files. In the name of the file or folder, it may be useful to include the date on which the file was uploaded, as well as any other pertinent details.

Maintaining an up-to-date data room will save you and your investors time, especially when it comes to due diligence or a potential deal. It will also prove that you value investor communication as well as transparency and trust very seriously.

When choosing a platform make sure that it has granular permissions. This allows you to limit the types of files users can access and download. Also, ensure that your provider can secure files for storage and transmission, which will add to the security of your project. Other features that increase security include a user-configurable session timeout that closes the user session after a specified amount of time if they fail to log out, and multi-factor authentication that requires more than just a password to gain access to the system.