Top 5 mistakes we've seen in the data room

We asked Fadim in our Customer Success team for the top 5 mistakes people often make in the data room. Most of them pertain to not using a specific feature, which is why it’s so important you’re aware of them.

 

#1: Wasting time and money with manual repetitive tasks that AI, machine learning and other smart features can automagically do for you

We often see people who have spent hours manually numbering and indexing their own folders and docs when they really didn’t need to. We can index thousands of docs in seconds. We also use machine learning to recognise hundreds of date patterns in file names and auto order them correctly for you.

 

#2: Taking unnecessary risks with Excel and Word docs

Keep your critical information protected by turning on secure office documents, found at the bottom of your data room software settings menu.

 

#3: Not utilising features that apply things in bulk, which saves time and eliminates mistakes

For example, you can set access and security settings by clicking on edit security in team settings. It ensures that every persons permissions are inherited. It’s faster and future proofs further additions of people and information to your virtual data room.

 

#4: Missing out on valuable insights that help you make smart decisions very quickly

We’ve got great reports to give you extra peace of mind when making critical changes in the room. Run an export to Excel of all documents under the document management section and save yourself manually checking and collating this information.

 

#5: Not setting up other people for success in their role and causing delays and frustration downstream

Make sure you give users in your team the appropriate roles based on what you want them to be able to do (and not do!). This way they’ll be able to access and use the right features to get to their outcome.

 

Got a question about an existing data room or setting up a new one? Get in touch and ask us anything you like.

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