Many times firms need to open their books and other corporate documents to third parties. Typically, this can happen during negotiations for a merger with or acquisition by that third party. These third parties want to see financials as well as corporate records including board of directors meeting minutes. There are a few different challenges with doing this that you'll want to be sure you have a handle on such as:
Do you know where all of the documents are that the outside party will want to see?
Can you make those documents available easily and securely?
Can you easily change which documents are available if the focus of diligence changes?
Can you track which documents the outside party has seen?
Can you end the outside party's access if the conversation with them ends?
At iBoardrooms, we have integrated a virtual dataroom into our board portal to make it easy to make the right documents securely available to outside parties, change which documents those are easily, track access to them and shutdown that access whenever you need to. Managing this process can be extremely time intensive and expensive, but iBoardrooms makes it easy. Give us a try for 30 days free and find out for yourself.