VDR software provides a secure and encrypted environment for sharing sensitive documents with a variety of parties. It is often used for M&A due diligence, but it can also be used to aid in bankruptcy procedures, fundraising and a variety of other business transactions that require document sharing. It is essential for advisors to be aware of how they can utilize VDR technology to improve the results of their clients.
The need to obtain reliability and performance data is vital, just as it is with any other tech stack. Check for information on average uptime, interruptions and delays. It’s also a good idea to look for third-party certifications like SOC. These are independent confirmation that a VDR partner has taken the proper steps to safeguard the customer’s data.
A good VDR provider will also offer professional customer service through various channels. Find live chat on the app, as well as phone and email assistance that is available in several languages, as well with training videos, dedicated teams and managers. In contrast to physical data rooms, the majority of modern providers are available all hours of the day.
Take a look at how the VDR was created with the needs of your customer in mind. Does it have a simple, intuitive user interface? Does it allow bulk uploads and downloading? Does it allow you to quickly access the most common documents and search for specific terms? These features will make the experience for your clients less stressful and will save hours during the course of negotiating.
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