The advantages of data room for startups
When you start a startup, there are a lot of things you need to think about, but the last thing you want to think about are legal things. Let’s take a look at how Contractify’s data room benefits the startups that we support at Pitchdrive.
- Data room let’s you focus on what matters
Having a data room takes away all the legal & contractual hassle, and lets you focus on what you do best: focus on your business & customers.
- Collaborative environment
With Contractify's data room, you have your most important documents aggregated in one secured space. Having this centralized, shared environment enables you to collaborate on business-critical documents with your team & external stakeholders, without compromising on your organization's security.
- Never miss a deadline
The best thing about it is that Contractify notifies you of deadlines. For example, if the maturity date is coming close, you want to be notified of that and that's something the data room does for you.
- Executes as stated in the contract
Having a grip on your contracts & business-critical documents, helps assure that everything that’s in the legal contract is going to be executed the way it is set in the contract.
- Everything is in one place
Last but not least. Data room allows that everything is in one place. Now if you have a startup your goal is obviously to grow, but when you grow, the risk is that all the information is going to be scattered all around the place. With a structured data room everything is going to be aggregated. It’s going to be in one place and nothing is going to be missed.
How Pitchdrive uses Contractify's data room
We are very happy that we can also use data room ourselves. Pitchdrive uses the data room for legal tasks; once we create a contract, our data room allows us to already create tasks for our colleagues to follow-up on. They know what needs to be executed and when. This handy feature makes it easy to tackle important contract deadlines, for example the maturity date that I already mentioned beforehand. When a mature date is coming up, a reminder of that will be sent out to the right person, at the right time with the right task attached to it.