Are you slowing down your deal process? We've spoken with our Director of Customer Services to find out our top 8 best practices.
We spoke with our Director of Customer Services, Manuel about the top missed opportunities that often happen in a data room. Here are his thoughts on these mistakes:
Not utilising the support team enough Our friendly customer service team can support and undertake any of your tasks. You’ll always be speaking to someone that has extensive experience, so you know you’re in safe hands. We’re always here and available 24/7/365!
Not using fast, bulk-upload features We’ve got lots of options for you to upload your files, the most timesaving of which are sometimes overlooked. For example, you can quickly populate your data room by using the browser-based drag & drop feature.
Not redacting GDPR content from within the data room You can redact GDPR items in the data room. Clients sometimes miss out redaction or use external applications to do this, which can waste time. The service is right there within the data room.
Not using enhanced document protection External users that need to work on Excel files can be granted enhanced document protection. This allows them to work on the files securely with enhanced offline document security.
Bidders don’t take advantage of comprehensive searching and bookmarking The search tool can help bidders narrow down documents fast which makes life easier when it comes to due diligence. They can also bookmark documents, so you don’t need to search for a certain document over and over.
Not taking advantage of guidance tools Type a question into the search bar: ‘how do I download a document?’ The data room will activate a tutorial which will highlight exactly where you need to click.
Missing out on customised support to organise and manage due diligence Our tailored solutions can be discussed with our customer service team. We can support and help organise the most effective ways of working.
Managing and running Q&A offline on Excel Our service allows you to manage and run Q&A within your data room. You can moderate questions and answers and assign them to different parties and experts. The tool also includes full analytics and reporting so there is no reason to try to manage this outside the data room.
There’s good news! These missteps can be correct simply and easily. If you’d like to discuss one of these features in more depth you can contact Manuel and his team directly.