how to set up a data room

How to Set Up a Virtual Data Room

Jul 16, 2021

While searching for online storage solutions for your business, you may have stumbled across virtual data rooms. You may have read a bit about them, but you are still unsure how to proceed with setting one up. We are here to help you with our guide on how to set up a data room.

Before we start

Before starting the process of setting up a virtual data room, you’ll want to make sure that the solution you have chosen best suits your needs. 

There are a few features that you should focus on:

  • Security. What kind of security protocols does this virtual data room have? What’s the opinion of other users? Has the provider had any issues with data leaks?
  • Ease of use. Is the interface user-friendly? How do users rate the navigation simplicity of the product?
  • Data analysis. Does this solution provide you with detailed and specific usage reports? Does the data room track what changes were made and who made them?
  • Pricing. Does this software solution fit your budget? How does it measure up to its competitors? What are its unique selling points? For pricing options and examples, follow the link.

After you have answered those questions, you are ready to proceed with the setup.

Setting up a data room

When you have decided on a solution custom-fit to your business, you can start customizing your virtual data room. 

1. Start with a structure in mind

You can start creating a folder structure inside the virtual data room. Some data room providers offer their users templates to make the task easier. Whether you use a prepared solution or you create your own, starting with a well-thought-out folder structure is the first step in organizing your virtual data room.

2. Upload the data

After you have created your folders, it’s time to start adding and organizing necessary documents. To make it easier to locate files later, implement a simple naming system — short and sweet but clear is best.

3. Invite people over 

Once the basic framework is created, it may help to delegate the sorting and organizing of documents to others. The simplest way is to authorize trusted personnel to sort the files by assigning them permission to a group of folders.

4. Double-check if everything is in its rightful place

Ask your employees if they’ve uploaded all the correct documents to their appropriate folders — though it may be worth following up. If everything seems fine — good job! You have just set up your virtual data room.

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Setting up a data room might seem like a daunting task at first. But as you can see, using our quick guide makes it much easier. Follow these steps, and we are confident that you will accomplish establishing your secure online file repository. If someone ever asks you how to create a virtual data room, you will already know the answer.