Transactions of yesteryear had their own access issues: logistics. Today, we don’t have to hop on a flight, reserve a hotel room, or spend hours in cabs to get a deal off the ground. However, organizations do need to share their sensitive documentation with a litany of different contributors and reviewers, each with different levels of access. First, before you can even enter due diligence, several internal parties must collaborate to pull together the necessary.
Documents that interested parties will review. There will be people who are part of this process who don’t need access to the rest of the documents being compiled. For example, your sales lead might need to list Latest Mailing Database but won’t need (and shouldn’t have) access to the payroll information provided by your HR lead. You’ll need to set up permissions for these users so that they only have access to the bare minimum necessary to complete their piece of the puzzle.
Once your organization’s documents have been compiled, the hard part has just begun. Now, you need to grant external users access to these documents. Even if you are working with just one organization on a deal, there could be several different groups of reviewers who each require different levels of access. As the transaction progresses, access needs often require updates, which makes controlling permissions all the more challenging.