Best practice for sharing documents with sellers during diligence

May 09, 2023

by a searcher from University of Cambridge in Nashville, TN, USA

What are some of the best practices and/or tools that you have used to share documents with sellers during the diligence process? My initial thoughts are to house a master excel document that both the buyer and seller can edit as progress occurs. Subsequent folders will also be created to provide a place that documents/information can be dropped in diligence specific categories. If you've gone through the diligence process before, how would you manage (or not manage) the process?

Reply by a professional
from The University of Tampa in Tampa, FL, USA

I really enjoy using "smartsheet" - its basically an online platform structured like a spreadsheet where documents can be attached to various request items and users can comment within the platform as well.

https://www.smartsheet.com/

Reply by a searcher
in Dallas, TX, USA

Data room software or even box can be used too. Obviously you need to have internal versions but its great to have a share a list like Warren shared, I would suggest that requests lists have separate tabs for each third party that is contributing requests to better organize them and ensure they dont miss anything, ie QoE, Legal, Insurance, etc. This also allows you to quickly see everything before going into a meeting without missing anything.

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