VDR software provides a secure encrypted environment for sharing sensitive files with a variety of parties. It is commonly used during M&A due diligence, but it can also be used for fundraising, bankruptcy procedures and other business transactions that call for document sharing. It’s important for advisors to be aware of ways they can leverage VDR technology to improve the results of their clients.
The need to obtain reliability and performance information is important as it is with any other technology stack. Look for details on average uptime, interruptions, and delays. In addition it’s a good idea to check for third-party security certifications such as SOC. They provide independent proof that the VDR partner has taken the appropriate steps to protect customer data.
A reputable VDR will also provide professional customer service through various channels. Check for live chats within the app or phone assistance that spans several languages as well as training videos, dedicated teams and managers. Unlike physical data rooms, most modern providers are accessible 24/7.
Take a look at how the VDR was created with the needs of your customer in mind. Does it have an intuitive user interface? Does it allow large-scale uploads and downloads? Does it allow you to swiftly access the most commonly used documents and search for specific keywords? These features can make the experience of your clients more pleasant, and will save hours during an agreement.
