Whether preparing for an investor due diligence process, or simply digitizing internal files for storage and file sharing, a good blog for the data room can dramatically cut down on time spent documenting. Data rooms allow businesses to focus on their tasks by removing the burden of email and providing granular permissions.

The most effective online data rooms will provide a range of features that will meet your needs including security and version control to pre-designed templates that are based on http://www.dataroominfo.org/gdpr-compliance-and-data-room/ the type of documents you need to share. Some of the most advanced options are AI or machine learning tools that can automately scan and review complicated or long documents, and highlight potential issues or deal breakers. This can significantly reduce the time required for human review and speed up due diligence processes.

In addition to standard information in the data room, such as LOIs or NDAs, as well as CIMs, some data rooms allow you to add other specific materials for your company. For instance, you might be able to include a file that includes references and customer information, or a deck that displays your brand and marketing plan.

Some founders will also include the market information section, which can help to show that you know the market that you are operating in. This can include any first-hand research and analysis of the industry, as well as regulatory and competitive landscape information that you might have. You may also want to include the roadmap for developing your product as well as any other documents that could be helpful in the fundraising process.