Setting up your project effectively in Ideals VDR is critical for ensuring secure collaboration, efficient user management, and organized data sharing. Follow these best practices to optimize your setup.
Here we cover some best practices to help you with your setup.
1. Plan and organize your groups
Organizing participants into appropriate groups helps maintain both security and efficient access management. For group creation, consider the following:
Group structure:
Separate external users by company and internal users by department. This segmentation makes it easier to assign relevant permissions and control access.
Use groups for specific needs, such as legal, finance, or due diligence teams.
Administrator roles:
Assign at least two admins to ensure resilience. This allows for smooth management if one admin is unavailable.
Admins can oversee management of certain groups.
Visibility settings:
Decide if users should see other users in the project. You can customize visibility to limit user exposure or promote collaboration by enabling visibility between team members.
Permissions at the group level:
Permissions are applied to the entire group, not to individual users. Group setup should be aligned with access needs to avoid complications later.
Structure groups based on roles, so access is granted according to job function or project phase.
Bulk user invitations:
Invite users in bulk via Excel file or copy-paste email addresses. This saves time and ensures users are added quickly.
Set permission levels for groups:
Assign permissions based on the group (e.g., Admin, User, Custom). Adjust permissions at the group level using Ideals VDR’s 8 available permission levels (e.g. No Access, View, Download, Upload, Manage).
Groups with deactivated states
Create groups in a deactivated state. Then activate them upon project readiness. Participants will then receive email invitations as required.
Track user NDA acceptance:
Require users to accept a clickwrap NDA before accessing documents. Keep track of who has accepted and export signed NDAs for record-keeping.
2. Populate your VDR with files and folders
Efficiently uploading and organizing your data is key to a smooth project launch. Consider these tips:
Upload methods:
Use drag-and-drop functionality for quick file uploads.
For large volumes of files, consider using third-party cloud storage (e.g. OneDrive, SharePoint).
Use bulk file renaming:
If necessary, rename files in bulk to maintain consistency and avoid manual errors.
Sync local folders:
Use the desktop app to sync your local folder with the VDR for both initial population and ongoing updates. This simplifies the management of large projects.
Review and verify uploads:
After uploading, double-check that files are in the correct folders and that document names are consistent.
Leverage customizable columns and sorting to streamline file management and make it easier to track content.
3. Configure permissions and access control
Proper permissions are critical to controlling who can access, view, and edit project files. Best practices include:
Use group-based permissions:
Assign permissions at the group level to ensure consistency and reduce administrative workload. This way, you define access once for each group, and it’s applied across all members.
Use View as feature to verify permissions.
Leverage hierarchical permissions:
Be mindful of how permissions inherit down from parent folders to subfolders and files.
If you set a folder to Manage access, all subfolders and files inherit this permission, which may not always be ideal. Adjust folder or file-level permissions if needed.
Plan for special file types:
Certain files, like videos or multimedia content, have more granular permission options (e.g. View, Original, Manage). Review file types and adjust permissions accordingly to reflect the sensitivity of each file.
Use tiered access (e.g. View, Download, Manage) based on user roles.
For highly sensitive documents, restrict permissions to prevent unauthorized access or data leakage.
Consider setting some files to No access for certain groups, especially if the document is confidential or irrelevant to their role.
Review permissions regularly:
Regularly audit user permissions to ensure they are still aligned with project needs. As users or content change, adjust permissions accordingly.
Use the By Groups and By Documents views to easily track which users or groups have access to specific documents or folders.
Permission inheritance:
During file or folder movements, it is recommended you decide that permissions should inherit from the destination folder. But the option is there to keep current settings should you need it.
4. Use security features to protect data
We provide several tools to enhance security and protect sensitive data:
Enable two-factor authentication (2FA):
Add an extra layer of security by requiring all users to verify their identity with 2FA.
Watermark documents:
Enable automated watermarks. Watermarks can include personalized details like email, project name, and IP address.
Restrict downloading and printing:
For sensitive documents, disable options for downloading and printing. This ensures the document remains within the controlled environment of the VDR.
Limit access to specific IPs or domains:
For high-security environments, consider restricting access to specific IPs or authorized domains. This limits entry to only those on trusted networks.
Secure document sharing with NDAs:
Implement a clickwrap NDA that users must accept before accessing any data. This ensures all participants are aware of confidentiality and legal obligations.
5. Organize your folder structure
A well-organized folder structure ensures that users can easily find the documents they need and that sensitive data is protected. Follow these best practices:
Group folders by project phase or function:
Structure your VDR with top-level folders based on key project phases (e.g. Due Diligence, Legal, Financial) or functional areas (e.g. Contracts, Compliance).
Use subfolders for specific topics:
Create subfolders under each phase or function to organize documents further (e.g. under Legal, subfolders for Contracts, IP, Regulatory).
Apply permissions at the folder level:
Restrict access to folders based on the type of content and user roles. Sensitive folders (e.g. Legal, Confidential) should have stricter permissions.
Folder structure import:
If you have an existing project structure (e.g. from an Excel checklist), use our import folder structure feature to save time.
6. Monitor user activity and engagement with Reports and Dashboard
Stay on top of project activity to ensure compliance and security:
Dashboard:
Get a snapshot of the deal health using Dashboard
Activity log and Document overview:
Use Activity log to track document views, downloads, and other interactions. Monitor users’ behavior for signs of irregular activity.
Use Document overview to ensure engagement with the right files
Engagement matrix:
Track how users are interacting with documents—who is viewing, downloading, and printing files. This helps identify which content is most important or needs further attention.
Subscription reports:
Subscribe to key project reports to receive automatic updates on storage usage, user activity, and more.
7. Close and archive the project
When your project is complete, ensure that all data is preserved securely:
Backup project data:
Before closing the project, create a backup of all content. Download project files or order an encrypted USB archive for additional security.
Archive content:
Consider archiving the project for future reference or compliance. Customize the content included in the archive, choosing between all documents, specific groups, or particular folders.
Recycle bin:
Use the Recycle Bin to manage deleted files. You can restore deleted content if needed or permanently remove it to ensure it’s not accessible.
By following these best practices, you can ensure that your project is well-organized, secure, and efficient, fostering smooth collaboration and protecting sensitive information throughout the project’s lifecycle.